Motorsports of Philadelphia, Inc., reported the following financial statements for 2021: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheets.) Read the requirement a. Calculate the new borrowing or payment of long-term notes payable. Motorsports of Philadelphia had only one long-term note payable transaction during the year. of long-term notes payable, in thousands, is The - - Data table Motorsports of Philadelphia, Inc. Requirement Calculate the following; enter all amounts in thousands a. New borrowing or payment of long-term notes payable. b. Motorsports of Philadelphia had only one long-term note payable transaction during the year. Issuance of common stock or retirement of common stock Motorsports of Philadelphia had only one common stock transaction during the year. c. Payment of cash dividends (same as dividends declared). Income Statement Year Ended December 31, 2021 (In thousands) $ 770 Service revenue Cost of goods sold 310 40 50 140 540 $ 230 Salary expense Depreciation expense Other expenses Total expenses Net income Print Done Print Done