The comparative balance sheets forNovakCorporation show the following information.

December 3120172016Cash$32,800$12,900Accounts receivable12,30010,100Inventory11,9009,100Available-for-sale debt investments-0-2,900Buildings-0-30,000Equipment50,20020,100Patents5,1006,200$112,300$91,300Allowance for doubtful accounts$3,000$4,500Accumulated depreciationequipment1,9004,400Accumulated depreciationbuilding-0-5,900Accounts payable5,1003,100Dividends payable-0-5,100Notes payable, short-term (nontrade)3,0004,000Long-term notes payable30,70025,000Common stock47,50033,200Retained earnings21,1006,100$112,300$91,300

Additional data related to 2017 are as follows.

1.Cash dividends paid were $5,100.2.Equipment that had cost $11,000and was 40% depreciated at the time of disposal was sold for $2,000.3.On January 1, 2017, the building was completely destroyed by a flood. Insurance proceeds on the building were $31,900.4.A long-term note for $20,000was issued for the acquisition of equipment.5.$14,300of the long-term note payable was paid by issuing common stock.6.Investments (available-for-sale) were sold at $1,700above their cost. The company has made similar sales and investments in the past.7.The interest of $2,000and income taxes of $6,500was paid in cash.8.Cash was paid for the acquisition of equipment.