The following post$-$closing trial balance was drawn from the accounts of Little Grocery Supplier $($LGS$)$ as of December $31,$ Year $1.$

Debit Credit

Cash $$6,590$

Accounts receivable $17,570$

Allowance for doubtful accounts $$1,885$

Inventory $25,800$

Accounts payable $9,045$

Common stock $21,700$

Retained earnings $17,330$

Totals $$49,960$ $$49,960$