The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, 2017: Cash Accounts receivable Allowance for doubtful accounts Inventory Accounts payable Common stock Retained earnings $ 5,040 16,060 $ 2,145 23,630 8,795 19,600 14,190 Transactions for 2018 1. Acquired an additional $9,600 cash from the issue of common stock 2. Purchased $60,100 of inventory on account. 3. Sold inventory that cost $61,300 for $95,900. Sales were made on account. 4. The company wrote off $1,200 of uncollectible accounts 5. On September 1, LGS loaned $10,500 to Eden Co. The note had an 5 percent interest rate and a one-year term 6. Paid $14,520 cash for operating expenses 7. The company collected $71,090 cash from accounts receivable 8. A cash payment of $52,630 was paid on accounts payable 9. The company paid a $6,000 cash dividend to the stockholders 10. Uncollectible accounts are estimated to be 2 percent of sales on account. 11. Recorded the accrued interest at December 31, 2018 (see item 5) Accounting Equation tor the Tear 2016 LiabilitiesStockholders' Equity Accoun Assets unts Stock Payable Retained Accounts Titles Earnings Interest Common Accounts Allowance+Inventory Receivable Notes + Receivable Receivable Event Merchandise Bal Cost of good Dividend Interest reve NA 3b 4 6 8 10 Bal Accounting Equation for the Year 2018 Liabilities Stockholders' Equity Accounts Common . Accounts Titles for Retained Earnings Notes + Receivable Receivable Interest. Retained Earnings Payable Stock Cost of goods sold Dividend Interest revenue NA 0