Kay Wing, Inc., prepared the following balance sheet at December $31,20$X$0.$

Kay Wing, Inc.

Balance Sheet as of December $31,20$X$0$

Cash $ $65,000$

Accounts receivable $37,000$

Inventory $70,000$

Long$-$term investments $20,000$

Land $39,000$

Plant and equipment $($net$)109,000$

Total assets $ $340,000$

Accounts payable $ $33,000$

Taxes payable $4,000$

Bonds payable $80,000$

Capital stock $90,000$

Retained earnings $133,000$

Total liabilities and stockholders$$ equity $ $340,000$

The following occurred during $20$X$1.$

A $$35,000$ note payable was issued.

Land was purchased for $$50,000.$

Bonds payable $($maturing in $20$X$5)$ in the amount of $$30,000$ were retired by paying $$30,000$ cash.

Capital stock in the amount of $$40,000$ was issued at par value.

The company sold surplus equipment for $$14,000.$ The equipment had a book value of $$14,000$ at the time of the sale.

Net income was $$35,500.$

Cash dividends of $$5,000$ were paid to the stockholders.

$100$ shares of stock of another company $($considered short$-$term investments$)$ were purchased for $$8,300.$

$$75,000$ in bonds were issued. The next day, the proceeds were used to purchase a new building.

$$12,000$ of depreciation was recorded on the plant and equipment.

At December $31,20$X$1,$ Cash was $$93,200,$ Accounts receivable had a balance of $$41,500,$ Inventory had increased to $$73,000,$ and Accounts payable had fallen to $$25,500.$ Long$-$term investments and Taxes payable were unchanged from $20$X$0.$

Prepare the December $31,20$X$1,$ balance sheet for Kay Wing, Inc.