[The following information applies to the questions displayed below.] The general ledger of the Karlin Company, a consulting company, at January 1, 2016, contained the following account balances: Account Title Debits Credits 31,400 Cash Accounts receivable 13,500 22,000 Equipment 6,600 Accumulated depreciation 7,750 Salaries payable Common Stock 44,500 8,050 Retained earnings Total 66,900 66,900 The following is a summary of the transactions for the year a. Sales of services, $116,000, of which $34,800 was on credit. b. Collected on accounts receivable, $24.100. c. Issued shares of common stock in exchange for $11,500 in cash. d. Paid salaries, $42,250 (of which $7,750 was for salaries payable). e. Paid miscellaneous expenses, $22,800. f Purchased equipment for $13,500 in cash. g. Paid $2,800 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $845 2. Depreciation for the year on the equipment is $2,200