Completion Status: The following comparative balance sheets 2019 & 2020 and additional information for "National Company" are given: Assets Dec. 31, 2020 Dec. 31, 2019 Cash $156,000 $26,000 Accounts Receivable 52,000 48,000 Inventory and supplies 30,000 58,000 Investments 0 36,000 Machines 114,000 104,000 Accumulated depreciation-Machines (28,000) (20.000) Total Assets $324,000 $252,000 Liabilities & Stockholders' Equity Note payable $ 74,000 $ 54,000 Bonds payable (long-term) 74,000 94,000 Common Stock 80,000 44,000 Retained Earnings 96.000 60,000 Total Liabilities & Stockholders' $324,000 $252,000 Equity Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is $58,000. 2. Sold investments for cash, cost $36,000 and resulting in $6,000 gain 3. The only changes affecting retained earnings are net income and cash dividends paid. 4. All the following transactions are in cash Purchased new machines; repay bonds payable, and issuance common stock. Required: Question Completion Status: The following comparative balance sheets 2019 & 2020 and additional information for "National Company" are given: Assets Dec. 31, 2020 Dec. 31, 2019 Cash $156,000 $26,000 Accounts Receivable 52,000 48,000 Inventory and supplies 30,000 58,000 Investments 0 36,000 Machines 114,000 104,000 Accumulated depreciation-Machines (28.000) (20.000) Total Assets $324.000 $252.000 Liabilities & Stockholders' Equity Note payable $ 74,000 $ 54,000 Bonds payable (long-term) 74,000 94,000 Common Stock 80,000 44,000 Retained Earnings Total Liabilities & Stockholders' 96.000 $324.000 60.000 $252,000 Equity Income Statement & Additional information: 1. Net income for the current year ending December 31, 2020 is $58,000. 2 Sold investments for cash, cost $36,000 and resulting in $6,000 gain 3. The only changes affecting retained earnings are net income and cash dividends paid 4. All the following transactions are in cash Purchased new machines, repay bonds payable, and issuance common stock. Required