This is the account balances for the question I previously posted.
The following account balances are available for The Clothing Outlet, Inc., a discount retailer, as of and for the year ended December 31, 2017, except for the retained earnings balance which is stated below as of January 1, 2017:
Cash... $5,500,000
Accounts receivable... $9,000,000
Marketable securities... $14,000,000
Prepaid insurance... $400,000
Inventory... $4,000,000
Equipment... $7,000,000
Accumulated depreciation: equipment... $3,000,000
Buildings... $20,700,000
Accumulated depreciation: buildings... $5,000,000
Land... $4,000,000
Investments (long-term)... $4,000,000
Patents net... $800,000
Accounts payable... $5,000,000
Income taxes payable... $1,600,000
Salaries payable... $1,000,000
Dividends payable... $2,000,000
Interest payable... $500,000
Notes payable (long-term)... $2,400,000
Bonds payable (long-term)... $6,000,000
Common stock... $10,100,000
Retained Earnings as of January 1, 2017... $8,400,000
Dividends declared... $5,000,000
Sales... $108,000,000
Cost of goods sold... $32,600,000
Interest revenue... $2,500,000
Interest expense... $1,500,000
Income tax expense (calculated @40%)... $6,400,000
Selling expenses... Sales salaries and commissions... $6,000,000
Insurance expense... $1,600,000
Advertising expense... $3,500,000
Utilities expense... $0
Depreciation expense: equipment... $400,000
Delivery expense... $500,000
General and administrative expenses...
Executive and administrative salaries... $5,800,000
Utilities expense... $4,200,000
Rental expense... $0
Depreciation expense: buildings... $500,000