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Current Attempt in Progress Concord Inc. had the following balance sheet at December 31, 2024. During 2025, the following occurred. During 2025 , the following
Current Attempt in Progress Concord Inc. had the following balance sheet at December 31, 2024. During 2025, the following occurred. During 2025 , the following occurred. 1. Concord Inc. sold part of its debt investment portfolio for $15,216. This transaction resulted in a gain of $3,616 for the firm. The company classifies these investments as available-for-sale. 2. A tract of land was purchased for $14,100 cash. 3. Long-term notes payable in the amount of $16,216 were retired before maturity by paying $16,216 cash. 4. An additional $20,216 in common stock was issued at par. 5. Dividends of $8,416 were declared and paid to stockholders. 6. Net income for 2025 was $33,100 after allowing for depreciation of $11,216. 7. Land was purchased through the issuance of $36,100 in bonds. 8. At December 31,2025 , Cash was $38,100, Accounts Receivable was $42,700, and Accounts Payable remained at $31,100
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