Additional information:

$1.$ Operating expenses include depreciation expense of $$50,400($$$24,000$ of depreciation expense for buildings and $$26,400$ for

equipment$).$

$2.$ Land was sold for cash at book value.

$3.$

Cash dividends of $$14,400$ were declared and paid.

$4.$Net income for $2025$ was $$44,400.$

$5.$Equipment was purchased for $$110,400$ cash. In addition, equipment costing $$26,400$ with a book value of $$12,000$ was sold for $$9,600$ cash.

$6\mathrm{.}48,000$ shares of $$1$ par value common stock were issued in exchange for land with a fair value of $$48,000.$