Financial data for Redstone Company for last year appear below: Redstone Company Statements of Financial Position Ending Beginning Balance Balance Assets 346,000 324,792 Cash 202,000 Accounts receivable 159,000 298,000 299,000 463,000 455,000 Inventory Plant and equipment (net) 318,000 293,000 Investment in Balsam Company 237,000 237,000 Land (undeveloped) $1,864,000 $1,767,792 Total assets Liabilities and owners' equity: Accounts payable 249,000 228,000 Long-term debt 855,000 855,000 760,000 Owners' equity 684,792 $1,864,000 $1,767,792 Total liabilities and owners' equity