The $140,000 balance in the land account consists of $110,000 for the cost of land where the plant and office buildings are located. The remaining $30,000 represents the cost of land being held for speculation. The $64,000 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 $120,000 note due in six months