Tara Westmont, the stockholder of Tiptoe Shoes, Inc., had annual revenues of $185,000, expenses of $103,700, The company paid $18,000 cash in dividends to the owner (sole stockholder).
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On January 1, 2017, Sandhill Corporation sold a building that cost $258,210 and that had accumulated depreciation of $105,500 on the date of sale. Sandhill received as consideration a $248,210 non-interest-bearing note due on January 1, 2020.
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