Comparative balance sheet accounts of Cullumber Company are presented below. Cullumber Company Comparative Balance Sheet Accounts As of December 31 2025 2024 PhotoGrid Debit Balances Cash $70,600 $50,500 Accounts Receivable 155,900 130,000 Inventory 75,700 61,300 Debt Investments (available-for-sale) 54,800 84,100 Equipment 69,500 48,200 Cullumber's 2025 income statement is as follows. Buildings 146,400 146,400 Sales revenue $946,700 Land 39.800 25.300 Less: Cost of goods sold 595,100 Totals $612.700 $545,800 Gross profit 351,600 Less: Operating expenses (includes depreciation expense and bad debt expense) Income from operations 249,600 102,000 Other revenues and expenses Gain on sale of investments Credit Balances Allowance for Doubtful Accounts $9,900 $8,000 Accumulated Depreciation-Equipment 21,200 14,000 Loss on sale of equipment Income before taxes Income taxes Net income Accumulated Depreciation-Buildings 37,300 28,300 Accounts Payable 66,100 60,200 Income Taxes Payable 11,900 10,000 Long-Term Notes Payable 62,000 70,000 Common Stock 310,000 260,000 Retained Earnings 94,300 95,300 Totals $612,700 $545,800 Additional data: 1. Equipment that cost $9,900 and was 60% depreciated was sold in 2025. 2. Cash dividends were declared and paid during the year. 3. Common stock was issued in exchange for land. 4. Debt investments that cost $35,200 were sold during the year. 5. There were no write-offs of uncollectible accounts during the year. $15,000 (3,000) 12,000 114,000 44,900 $69,100