Motorsports of Miami, Inc., reported the following financial statements for 2021: (Click the icon to view the income statement.) Read the requirement. (Click the icon to view the comparative balance sheets.) ... a. Calculate the new borrowing or payment of long-term notes payable. Motorsports of Miami had only one long-term note payable transaction during the year. The of long-term notes payable, in thousands, is Data table Motorsports of Miami, Inc. Income Statement Year Ended December 31, 2021 (In thousands) Service revenue Cost of goods sold Salary expense Depreciation expense Other expenses Total expenses Net income $ 780 370 80 70 150 670 $ 110 Print Done Data table Motorsports of Miami, Inc. Comparative Balance Sheets December 31, 2021 and 2020 (In thousands) Assets 2021 2020 Liabilities 2021 2020 Current: Current: Cash $ 26 $ 18 Accounts payable $ 53 $ Accounts receivable 61 44 Salary payable Inventory 72 85 Accrued liabilities Prepaid expenses 4 3 Long-term note payable 278 25 22 43 21 17 63 555 20 55 Plant assets, net 225 181 Long-term investments 59 75 Stockholders' Equity Common stock 44 33 33 245 234 Retained earnings $ 447 $ 406 $ 447 $ 406 Total Total Print Done