Sunland Inc., had the following condensed balance sheet at the end of operations for 2019. SUNLAND INC. BALANCE SHEET DECEMBER 31, 2019 Cash $8,600 Current liabilities $15.200 Current assets other than cash 29,200 Long-term notes payable 25,600 Equity invesments 19.900 Bonds payable 25,000 Plant assets (net) 66,800 Common stock 75,000 Land 40,400 Retained earnings 24,100 $164,900 $164,900 During 2020, the following occurred. 1. A tract of land was purchased for $8,900. 2. Bonds payable in the amount of $15,000 were redeemed at par. 3. An additional $10,000 in common stock was issued at par. 4. Dividends totaling $9,400 were paid to stockholders. 5. Net income was $30,300 after allowing depreciation of $13,700. 6. Land was purchased through the issuance of $22,800 in bonds. 7. Sunland Inc. sold part of its investment portfolio for $12,900. This transaction resulted in a gain of $1,900 for the company. No unrealized gains or losses were recorded on these investments in 2020. 8. Both current assets (other than cash) and current liabilities remained at the same amount.