The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Wright Company. Additional information from Wright's accounting records is provided also. WRIGHT COMPANY Comparative Balance Sheets December 31, 2021 and zeze ($ in thousands) 2021 2020 Assets Cash 96 80 Accounts receivable Short-term investment 122 125 58 28 Inventory Land 124 120 90 110 Buildings and equipment 645 500 Less: Accumulated depreciation (175) (125) $ 960 1838 Liabilities Accounts payable 37 45 Salaries payable 4 6 Interest payable 7 4 Income tax payable B 13 Notes payable B 29 Bonds payable 258 200 Shareholders' Equity Common stock 345 300 Paid in capital excess of par 170 150 Retained earnings 131 91 960 838 WRIGHT COMPANY Income Statement For Year Ended December 31, 2021 Revenues: ($ in thousands) Sales revenue $560 Expenses: Cost of goods sold 230 salaries expense 98 Depreciation expense Interest expense 19 Loss on sale of land Income tax expense 68 470 Net income $90 Additional information from the accounting records: a. Land that originally cost $20,000 was sold for $15,000. b. The common stock of Microsoft Corporation was purchased for $30,000 as a short-term investment not classified as a cash equivalent. c. New equipment was purchased for $145,000 cash. d. A $29,000 note was paid at maturity on January 1. e. On January 1, 2021, bonds were sold at their $58.000 face value f. Common stock ($45,000 par) was sold for $65,000. g. Net income was $90,000 and cash dividends of $50,000 were paid to shareholders.