The following is a December 31, 2024, post-closing trial balance for the Jackson Corporation. Account Title Debits Credits Cash $ 59,000 Accounts receivable 53,000 Inventory 94,000 Prepaid rent (for the next 8 months) 35,000 Investment in equity securities (short term) 29,000 Machinery 240,000 Accumulated depreciation $ 30,000 Patent (net) 98,000 Accounts payable 17,500 Salaries payable 13,500 Income taxes payable 51,000 Bonds payable (due in 10 years) 260,000 Common stock 170,000 Retained earnings 66,000 Totals $ 608,000 $ 608,000