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Giturdone.com is an Internet wholesaler of a variety of commercial software applications. On January 1, 2007, the company's balance sheet appeared as follows (all amounts are in thousands of dollars):
Giturdone.com
Balance Sheet
January 1, 2007
Assets
Cash
Accounts receivable
Inventory
Buildings & equipment
Accumulated depreciation
Land (for plant expansion)
Total assets
$ 4,240
6,800
15,200
16,780
(4,780)
9,000
$ 47,240
Liabilities & Stockholder's Equity
Wages payable
Capital stock (owner's investment)
Retained earnings
Total liabilities and stockholders' equity
$ 640
33,000
13,600
_______
During the first quarter of the current year (January, February, March), the following events occurred.
Required
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