The following items were taken from the financial statements of Wilson Inc. for 2012:
Accounts payable ...........$15,780
Accounts receivable .......... 8,470
Advertising expense .......... 4,200
Cash ................. 16,080
Common stock ............. 15,400
Cost of sales ............. 41,250
Dividends ................ 2310
Equipment, net ............ 45,420
Income tax expense ........... 3,260
Insurance expense ........... 4,680
Long-term liabilities ........... 9,920
Prepaid insurance ............. 5,970
Retained earnings, Jan. 1 ......... 28,450
Salaries expense .............. 17,420
Salaries payable ............. 5,210
Sales ................... 78,420
Utilities expense .............. 4,180