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.) Motorsports of Miami, Inc. Income Statement Year Ended December 31, 2021 (In thousands) $ 780 Service revenue Cost of goods sold 370 60 Salary expense Depreciation expense 70 160 Other expenses 660 Total expenses $ 120 Net income Motorsports of Miami, Inc. Comparative Balance Sheets December 31, 2021 and 2020 (In thousands) Assets 2021 2020 Current: Liabilities Current: 2021 2020 Cash 26 $ 15 Accounts payable $ 53 $ 49 Accounts receivable 54 43 Salary payable 33 29 Inventory 74 87 Accrued liabilities 15 18 Prepaid expenses 11 10 Long-term note payable 62 52 Plant assets, net 227 183 Long-term investments 54 54 79 Stockholders' Equity Common stock 42 31 241 238 Retained earnings $ 446 $ 417 $ 446 $ 417 Total Total Requirement Calculate the following; enter all amounts in thousands. a. New borrowing or payment of long-term notes payable. b. C. Motorsports of Miami had only one long-term note payable transaction during the year. Issuance of common stock or retirement of common stock. Motorsports of Miami had only one common stock transaction during the year. Payment of cash dividends (same as dividends declared). Print Done - X 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) $ 780 Service revenue Cost of goods sold 370 Salary expense 60 Depreciation expense Other expenses 70 160 660 Total expenses $ 120 Net income - 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 $ 15 Accounts payable $ 53 $ 49 Accounts receivable 54 43 Salary payable 33 29 Inventory 74 87 Accrued liabilities 15 18 Prepaid expenses 11 10 Long-term note payable 62 52 Plant assets, net 227 183 Long-term investments 54 79 Stockholders' Equity Common stock 42 31 241 238 Retained earnings 446 $ 417 $ 446 $ 417 Total Total Requirement Calculate the following; enter all amounts in thousands. a. b. C. New borrowing or payment of long-term notes payable. Motorsports of Miami had only one long-term note payable transaction during the year. Issuance of common stock or retirement of common stock. Motorsports of Miami had only one common stock transaction during the year. Payment of cash dividends (same as dividends declared). ->