The general ledger of the Karlin Company, a consulting company, at January 1, 2018, contained the following account balances Debits Credits 28,700 18,000 31,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 9,300 10,000 49,000 9.400 77,700 77,700 The following is a summary of the transactions for the year. a. Sales of services, $134,000, of which $40,200 was on credit b. Collected on accounts receivable, $26,800 c. Issued shares of common stock in exchange for $16,000 in cash d. Paid salaries, $49,000 (of which $10,000 was for salaries payable) e. Paid miscellaneous expenses, $26,400 f. Purchased equipment for $18,500 in cash g. Paid $3,250 in cash dividends to shareholders 1. Accrued salaries at year-end amounted to $980 2. Depreciation for the year on the equipment is $3,100