2025 2024 Cash $38,400 $12,800 Accounts receivable 12,300 10,000 Inventory 12,100 10,000 Equity investments -0- 3,000 Buildings -0- 29,600 Equipment 39,700 20,100 Copyrights 5,000 5,200 Totals $107,500 $90,700 Allowance for doubtful accounts $2,900 $4,400 Accumulated depreciation-equipment 2,100 4,500 Accumulated depreciation-buildings -0- 6,000 Accounts payable 5,000 4,000 Dividends payable -0- 5,100 Notes payable, short-term (nontrade) 3,000 4,000 Long-term notes payable 36,000 25,000 Common stock 38,000 33,000 Retained earnings 20,500 4,700 $107,500 $90,700 Additional data related to 2025 are as follows. 1 Equipment that had cost $11,200 and was 30% depreciated at time of disposal was sold for $2,600. 2. $5,000 of the long-term note payable was paid by issuing common stock. 3. Cash dividends paid were $5,100. 4. On January 1, 2025, the building was completely destroyed by a flood. Insurance proceeds on the building were $32,700 (net of $4,000 taxes). Adjustments to reconcile net income to $ 5. Equity investments (ownership is less than 20% of total shares) were sold at $1,500 above their cost. No unrealized gains or losses were recorded in 2025. Supplemental disclosures of cash flow information: $ 6. Cash of $14,800 and a long-term note for $16,000 were given for the acquisition of equipment. $ 7. Interest of $2,000 and income taxes of $5,000 were paid in cash. $ $