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Sandhill GallariesAccount Titles and Explanation Cash Land Buildings Equipment Copyrights Goodwill Notes Payable Accounts Payable Cash Balance Sheet As of December 3 1 , 2

Sandhill GallariesAccount Titles and Explanation

Cash

Land

Buildings

Equipment

Copyrights

Goodwill

Notes Payable

Accounts Payable

Cash

Balance Sheet

As of December

31, 2025

Moss and Sandhill agree that:

Land is undervalued by $

28, 000 .

Equipment is overvalued by $

4, 000 .

Sandhill agrees to sell the gallery to Moss for $

369, 000 .

Account Titles and Explanation

Land

Equipment

171, 400

Copyrights

Goodwill

Notes Payable

Accounts Payable

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