Coronado Industries's balance sheet accounts as of December 31, 2018 and 2017 and information relating to 2018 activities are presented below.

December 31,20182017

Assets

Cash $439000 $202000

Short-term investments 601000

Accounts receivable (net) 1030000 1030000

Inventory 1380000 1200000

Long-term investments 401000 598000

Plant assets 3380000 2010000

Accumulated depreciation (902000)(902000)

Patent 182000199000

Total assets $6511000 $4337000

Liabilities and Stockholders' Equity

Accounts payable and accrued liabilities $1650000 $1430000

Notes payable (nontrade) 579000

Common stock, $10 par 1590000 1420000

Additional paid-in capital 799000501000

Retained earnings 1893000986000

Total liabilities and stockholders' equity $6511000$4337000

Information relating to 2018 activities:

Net income for 2018 was $1520000.

Cash dividends of $600000 were declared and paid in 2018.

Equipment costing $990000 and having a carrying amount of $318000 was sold in 2018 for $358000.

A long-term investment was sold in 2018 for $318000. There were no other transactions affecting long-term investments in 2018.

17000 shares of common stock were issued in 2018 for $25 a share.

Short-term investments consist of treasury bills maturing on 6/30/19.

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