Metlock Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable Investments Plant assets (net) Land METLOCK INC. BALANCE SHEET DECEMBER 31, 2019 $24,160 Accounts payable 25,360 Notes payable (long-term) 36.160 Common stock 81,000 Retained earnings 44,160 $210,840 $34,160 45,160 104.160 27,360 $210,840 During 2020, the following occurred. 1. 2. 3. 4. 5. 6. 7. 8. Metlock Inc. sold part of its debt investment portfolio for $18, 112. This transaction resulted in a gain of $6,512 for the firm. The company classifies these investments as available-for-sale. Atract of land was purchased for $17,160 cash. Long-term notes payable in the amount of $19,112 were retired before maturity by paying $19,112 cash. An additional $23,112 in common stock was issued at par. Dividends of $11,312 were declared and paid to stockholders. Net income for 2020 was $36,160 after allowing for depreciation of $14,112 Land was purchased through the issuance of $39,160 in bonds. At December 31, 2020, Cash was $41,160, Accounts Receivable was $45,760, and Accounts Payable remained at $34.160. METLOCK INC. Statement of Cash Flows Adjustments to reconcile net income to >