The following information
was drawn from the accounting records of Swanson Company as of December 31,
2013, before the temporary accounts had been closed. The Cash balance was
$3,350, and Notes Payable amounted to $22,900. The company had revenues of
$3,640 and expenses of $2,130. The companyâ€™s Land account had a $6,000 balance.
Dividends amounted to $700. There was $1,400 of common stock issued.