Coronado Inc. had the following balance sheet at December 31, 2019. CORONADO INC. BALANCE SHEET DECEMBER 31, 2019 Cash $23,250 Accounts payable $33,250 Accounts receivable 24,450 Notes payable (long-term) 44,250 Investments 35,250 Common stock 103,250 Plant assets (net) 81,000 Retained earnings 26,450 Land 43,250 $207,200 $207,200 During 2020, the following occurred. 1. Coronado Inc. sold part of its debt investment portfolio for $16,367. This transaction resulted in a gain of $4,767 for the firm. The company classifies these investments as available-for-sale. 2. A tract of land was purchased for $16,250 cash. 3. Long-term notes payable in the amount of $17,367 were retired before maturity by paying $17,367 cash. 4. An additional $21,367 in common stock was issued at par. 99.