Account Balances June $30,2023$June $30,2024$ Debits Cash$397,5201,128,203$ Accounts Receivable$110,000162,500$ Marketable Securities $($at cost$)11,70024,700$ Allowance for Change in Value$1,5002,800$ Construction in Process$185,625526,500$ Prepaid Expenses$49,50013,000$ Investments $($long$-$term$)017,550$ Leased Equipment$026,000$ Building$33,0000$ Deferred tax asset$5,9132,860$ Land$13,65013,650$ Totals$808,4081,917,7630$Credits Allowance for doubtful accounts$6,6005,850$ Accounts Payable$96,250273,000$ Deferred tax liability$1,1004,290$ Income Taxes Payable$3,85011,700$ Note Payable $($long$-$term$)3,5000$ Accumulated Depreciation on Building$2,7500$ Accumulated Depreciation on Leased Asset$03,900$ Lease obligation$023,400$ Interest payable on lease obligation$02,340$ Bonds payable$060,000$ Premium on bonds payable $01,140$ Billings on contruction in process$165,000422,500$ Pension liability$165,000520,000$ Convertible preferred stock, $$100$ par$9,0000$ Common Stock, $$10$ par$16,00026,500$ Additional Paid$-$in Capital$8,70013,700$ Unrealized Increase in Value of Marketable Securities$1,5002,800$ Retained Earnings$329,158546,643$ Totals$808,4081,917,763$ Additional information: a$.$ Dividends declared and paid totaled $$1,500.$ b$.300$ shares common stock $($at par$)$ were issued for cash. c$.$ On July $1,2023,$ convertible preferred stock that had originally been issued at par value were converted into $500$ shares of common stock. The book value method was used to account for the conversion. d$.$ The long$-$term note payable was paid by issuing $250$ shares of common stock at the beginning of the fiscal year. e$.$ Short$-$term marketable securities were purchased at a cost of $$13,000.$ The portfolio was increased by $$1,300$ to a $$27,500$ fair value at year$-$end by adjusting the related allowance account. f$.$ During the year, a $25\%$ interest in Spicoli Corp. was purchased as an investment for $$13,000.$ Spicoli reported $$24,000$ in net income for the year and paid dividends of $$1,450$ to Wildcat Pizza. g$.$ $$4,800$ of accounts receivable were written off as uncollectible during the year. h$.$ Wildcat Pizza's inventory consists of Construction$-$in$-$Process in excess of the Billings on Construction$-$in$-$Process account balance. i$.$ A building was destroyed by fire during the year and insurance proceeds of $$36,000$ were collected. j$.$ Ten$-$year, $10\%$ bonds payable were sold on December $31,2023,$ at $102,$ plus accrued interest. Discounts and premiums are amortized using the straight$-$line method. Interest is paid with cash semiannually. k$.$ Wildcat Pizza recorded pension expense of $$470,000$ for the year. l$.$ A lease agreement was signed on July $1$st$,2023$ for the use of equipment worth $$26,000.$ The company determined that the transaction should be recorded as a capital lease.