The following three accounts appear in the general ledger of Ivanhoe Corp. during $2025.$

Equipment

Jan. $1$ Bal.

$200,000$

Nov. $10$ Cost of equipment sold

$61,250$

July $31$ Purchase of equipment

$87,500$

Sept. $2$ Purchase of equipment

$66,250$

Bal.

$292,500$

Accumulated Depreciation$-$Equipment

Jan. $1$ Bal.

$88,750$

Dec. $31$ Depreciation for year

$35,000$

Nov. $10$ Accumulated depreciation on equipment sold

$20,000$

Bal.

$103,750$

Retained Earnings

Jan. $1$ Bal.

$131,250$

Dec. $31$ Net income

$90,000$

Aug. $23$ Dividends $($cash$)$

Bal.

$17,500$

$203,750$The following three accounts appear in the general ledger of Ivanhoe Corp. during $2025.$

Equipment

Jan. $1$ Bal.

$200,000$

Nov. $10$ Cost of equipment sold

$61,250$

July $31$ Purchase of equipment

$87,500$

Sept. $2$ Purchase of equipment

$66,250$

Bal.

$292,500$

Accumulated Depreciation$-$Equipment

Jan. $1$ Bal.

$88,750$

Dec. $31$ Depreciation for year

$35,000$

Nov. $10$ Accumulated depreciation on equipment sold

$20,000$

Bal.

$103,750$

Retained Earnings

Jan. $1$ Bal.

$131,250$

Dec. $31$ Net income

$90,000$

Aug. $23$ Dividends $($cash$)$

Bal.

$17,500$

$203,750$