The general ledger of the Karlin Company, a consulting company, at January 1, 2016, contained the following account balances: Account Title Debits Credits Cash 32,900 Accounts receivable 11,000 Equipment 17,000 Accumulated depreciation 5,100 Salaries payable 6,500 Common stock 42,000 Retained earnings 7,300 Total 60,900 60,900 The following is a summary of the transactions for the year: a. Sales of services, $106,000, of which $31,800 was on credit. b. Collected on accounts receivable, $22,600. c. Issued shares of common stock in exchange for $8,500 in cash. d. Paid salaries, $38,500 (of which $6,500 was for salaries payable). e. Paid miscellaneous expenses, $20,800. f. Purchased equipment for $11,000 in cash. g. Paid $2,525 in cash dividends to shareholders.