Information from the financial statements Marble Patch, Inc. for last year are shown below. Assets: Cash Accounts receivable Inventory Plant and equipment (net) Long-Term Investment Statement of Financial Position Land (held for future use) Total assets Liabilities and owners' equity: Accounts payable Long-term debt Stockholders' equity Total liabilities and owners' equity Beginning Balance Ending Balance $ 295,000 178,000 275,000 480,000 306,000 273,000 $ 1,807,000 $ 224,000 824,000 759,000 $ 1,807,000 $ 336,524 180,000 222,000 441,000 322,000 273,000 $ 1,774,524 $ 197,000 824,000 753,524 $ 1,774,524 Income Statement Sales Less operating expenses Net operating income Less interest and taxes: Tax expense Interest expense Net income $ 2,480,000 2,033,600 446,400 $ 99,100 151,776 250,876 $ 195,524 Last year, Marble Patch, Inc. paid dividends of $201,000. The "Long-Term Investments" on the corporation's statement of financial position represents an investment in the stock of another company.