On May 7, Carpet Barn Company offered to pay $81,970 for land that had a selling price of $90,000. On May 15, Carpet Barn accepted a counteroffer of $84,600. On June 5, the land was assessed at a value of $100,000 for property tax purposes. On December 10, Carpet Barn Company was offered $126,960 for the land by another company. At what value should the land be recorded in Carpet Barn Company's records? The following information is available from the records of Loop Tech, Inc. On January 1, Common Stock had a balance of $50,000, and Retained Earnings had a balance of $342,500. During the year, no additional common stock was issued, and $25,000 of dividends were pald. For the year ended December 31, Loop Tech reported a net loss of $38,700. Prepare a statement of stockholders' equity for the year ended December 31. If an amount box does not require an entry. Leave it blank or enter "0". LoopTech, Inc. Statement of Stockholders' Equity For the Year Ended December 31 Common Stock Retained Earnings Total