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The following transactions occurred during December.Dec . 2 Purchased equipment for $ 2 0 , 4 8 0 , plus sales taxes of $ 1

The following transactions occurred during December.Dec.2Purchased equipment for $20,480, plus sales taxes of $1,024(paid in cash).2 Grouper sold for $4,480 equipment which originally cost $6,400. Accumulated depreciation on this equipment at January 1,2025, was $2,304; 2025 depreciation prior to the sale of equipment was $1,056.15 Grouper sold for $6,400 on account inventory that cost $4,480.(Grouper records sales under a perpetual inventory system.)23 Salaries and wages of $8,448 were paid.Adjustment data:1. Grouper estimates that uncollectible accounts receivable at year-end are $5,120.2.The note receivable is a one-year, 8% note dated April 1,2025. No interest has been recorded.3. The balance in prepaid insurance represents payment of a $4,608,6-month premium on September 1,2025.4. The building is being depreciated using the straight-line method over 30 years. The salvage value is $38,400.5. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost.6. The equipment purchased on December 2,2025, is being depreciated using the straight-line method over 5 years, with a salvage value of $2,304.7. The patent was acquired on January 1,2025, and has a useful life of 9 years from that date.Unpaid salaries at December 31,2025, total $2,816.9. Both the short-term and long-term notes payable are dated January 1,2025, and carry a 10% interest rate. All interest is payable in the next 12 months.10Income tax expense was $19,200. It was unpaid at December 31.
Prepare a december 31,2025 balance sheet.
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