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See the balance sheet and income statement for Hailey Singers Inc. Additional information: a.Bought equipment...

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Accounting

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See the balance sheet and income statement for Hailey Singers Inc. Additional information: a.Bought equipment for cash, $74,000. b.Paid $14,000 on long-term note payable. c. Issued new shares of common stock for $20,000 cash. d.Cash dividends of $23,700 were declared and paid to stockholders. e. Accounts Payable arose from inventory purchases on credit. f. Income tax expense ($14,470) and interest expense ($4,200) were paid in full at the end of both years and are included in Other Expenses. supplemental disclosures. (Enter any deductions and cash outflows as a negative value.)

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