The comparative balance sheets for Oriole Corporation show the following information. December 31 2020 2019 Cash $33,700 $12,800 Accounts receivable 12,200 9,900 Inventory 12,000 9,100 Available-for-sale debt investments -0- 3,000 Buildings -0- 30,000 Equipment 44,900 19,800 Patents 5,000 6,200 $107,800 $90,800 Allowance for doubtful accounts $2,900 $4,500 Accumulated depreciation-equipment 2,100 4,500 Accumulated depreciation-building -0- 6,000 Accounts payable 5,000 3,000 Dividends payable -0- 5,000 Notes payable, short-term (nontrade) 3,100 4,000 Long-term notes payable 31,000 25,000 Common stock 43,000 33,000 Retained earnings 20,700 5,800 $107,800 $90,800 Additional data related to 2020 are as follows. 1. Equipment that had cost $11,100 and was 40% depreciated at time of disposal was sold for $2,400. 2. $10,000 of the long-term note payable was paid by issuing common stock. 3. Cash dividends paid were $5,000. 4. 5. On January 1, 2020, the building was completely destroyed by a flood. Insurance proceeds on the building were $29,800 (net of $2,100 taxes). Debt investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment. 8. Interest of $1,900 and income taxes of $6,500 were paid in cash.