The following three accounts appear in the general ledger of Lily Corp. during 2022. Date Jan. 1 Balance July 31 Purchase of equipment Sept. 2 Purchase of equipment Nov. 10 Cost of equipment sold Equipment Debit Credit Balance 160,800 72,000 232,800 51,400 284,200 49,400 234,800 Accumulated Depreciation-Equipment Date Debit Credit Balance Jan. 1 Balance 69,000 Nov. 10 Accumulated depreciation on equipment sold 16,100 52,900 Dec. 31 Depreciation for year 21,600 74,500 Date Jan. 1 Balance Aug. 23 Dividends (cash) Dec. 31 Net income Retained Earnings Debit Credit Balance 104,400 18,500 85,900 67,400 153,300