Exquisite Jewelers is developing its annual financial statements for the current year. The following amounts were correct at December $31,$ current year: cash, $$58,000$; accounts receivable, $$71,000$; merchandise inventory, $$154,000$; prepaid insurance, $$1,500$; investment in stock of Z Corporation $($long$-$term$),$ $$36,000$; store equipment, $$67,000$; used store equipment held for disposal, $$9,000$; accumulated depreciation, store equipment, $$19,000$; accounts payable, $$52,500$; long$-$term note payable, $$42,000$; income taxes payable, $$9,000$; retained earnings, $$164,000$; and common stock, $100,000$ shares outstanding, par value $$1\mathrm{.}00$ per share $($originally sold and issued at $$1\mathrm{.}10$ per share$).$