December 31 2020 2019 Cash $33,700 $13,100 Accounts receivable 12,200 9,900 Inventory 12,000 8,900 Available-for-sale debt investments 0 3,000 Buildings 0 30,000 Equipment 45,200 19,800 Patents 5,100 6,200 $108,200 $90,900 Allowance for doubtful accounts $2,900 $4,500 Accumulated depreciationequipment 2,000 4,500 Accumulated depreciationbuilding 0 5,900 Accounts payable 5,100 3,000 Dividends payable 0 5,000 Notes payable, short-term (nontrade) 3,100 4,100 Long-term notes payable 31,000 25,000 Common stock 43,000 33,000 Retained earnings 21,100 5,900 $108,200 $90,900 Additional data related to 2020 are as follows. 1. Equipment that had cost $10,900 and was 40% depreciated at time of disposal was sold for $2,400. 2. $10,000 of the long-term note payable was paid by issuing common stock. 3. Cash dividends paid were $5,000. 4. On January 1, 2020, the building was completely destroyed by a flood. Insurance proceeds on the building were $29,800 (net of $2,000 taxes). 5. Debt investments (available-for-sale) were sold at $1,600 above their cost. The company has made similar sales and investments in the past. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment. 8. Interest of $2,000 and income taxes of $6,500 were paid in cash.