[Your name] Merchandising Company buys and sells a product called Zoom. The company is subject to a 25% income tax rate. The account balances as of Jan 1,2022, the start of the year, were as follows: 7. In a "fire sale," building and land obviously worth $400,000 and $100,000, respectively, was acquired for $380,000 in cash. 8. Collected $20,000 interest from bank on its saving account in cash. 9. Purchased Gina Company (a competitor) for the expansion of operations. Gina had $245,000 of equipment, $130,000 land, and $420,000 building and $125,000 notes payable due in 10 years which is assumed by Rose. The company paid $900,000 for this purchase. 10. Purchased $15,000 of supplies in cash. 11. Made the 1st semiannual interest payment on bond issued above. 1. 12. Made the first monthly payment for the purchase of the truck in the above. 13. Collected $18,000 on accounts receivable. 14. Recorded hurricane losses on equipment. The lost equipment had cost company $65,000 and had accumulated depreciation of $30,000 as of the hurricane date. The loss met extraordinary requirements