The trial balance of Pacilio Security Services Inc as of January I, 2016, had the follint normal balances: $74,210 13,500 Cash Accounts Receivable Supplies Prepaid Rent Merchandise Inventory (24 @$265; 1 $260) Land Accounts Payable Unearned Revenue Salaries Payable Common Stock Retained Earnings 6,620 4,000 1,950 1,000 50,000 47,880 During 2016 Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from 2015. 2. On March 1, 2016, Pacilio established a $100 petty cash fund to handle small expenditures 3. Paid $4,800 on March 1, 2016, for one year's lease on the company van in advance. 4. Paid $7,200 on May 2, 2016, for one year's office rent in advance. 5. Purchased $400 of supplies on account. 6. Purchased 100 alarm systems for $28,000 cash during the year. 7. Sold 102 alarm systems for $$7,120. All sales were on account. (Compute cost of goods sold using the FIFO cost flow method.) 8. Paid $2,100 on accounts payable during the year 9. Replenished the petty cash fund on August 1. At this time, the petty cash fund had only $7 currency left. It contained the following receipts: office supplies expense, $23, cutting grass $55; and miscellaneous expense, $14 10. Billed S52,000 of monitoring services for the year. 11. Paid installers and other employees a total of $25,000 cash for salaries. 12. Collected $89,300 of accounts receivable during the year. 13. Paid S3,600 of advertising expense during the year 14. Paid $2,500 of utilities expense for the year 15. Paid a dividend of $10,000 to the shareholders. Adjustments 16. There was $160 of supplies on hand at the end of the year. 17. Recognized the expired rent for both the van and the office building for the vear . (The rent for both the van and the office remained the same for 2015 and 2016) 18. Recognized the balance of the revenue earned in 2016 where cash had been collected 19. Accrued salaries at December 31, 2016, were $1,400