The general ledger of the ABC Company, a consulting company, at January $1,2024,$ contained the following account balances:

Account Title Debits Credits

Cash $ $29,300$

Accounts receivable $17,000$

Equipment $29,000$

Accumulated depreciation $ $8,700$

Salaries payable $9,500$

Common stock $48,000$

Retained earnings $9,100$

Total $ $75,300$ $ $75,300$

The following is a summary of the transactions for the year:

Provided services, $$130,000,$ of which $$39,000$ was on account and the balance was received in cash.

Collected on accounts receivable, $$26,200.$

Issued shares of common stock in exchange for $$15,000$ in cash.

Paid salaries, $$47,500($of which $$9,500$ was for salaries payable at the end of the prior year$).$

Paid miscellaneous expense for various items, $$25,600.$

Purchased equipment for $$17,500$ in cash.

Paid $$3,150$ in cash dividends to shareholders.

Accrued salaries at year$-$end amounted to $$950.$

Depreciation for the year on the equipment is $$2,900.$

Please show all calculations