The $$136,000$ balance in the land account consists of $$108,000$ for the cost of land where the plant and office buildings are located. The remaining $$28,000$ represents the cost of land being held for speculation.

The $$60,000$ balance in the investment in equity securities account represents an investment in the common stock of another corporation. Valley intends to sell one$-$half of the stock within the next year.

The notes payable account consists of a $$116,000$ note due in six months and a $$174,000$ note due in three annual installments of $$58,000$ each, with the first payment due in August of $2025.$