The comparative statements of financial position of Mikos Inc. as at December 31, 2020 and 2021 and its statement of earnings for the year ended December 31, 2021 are presented below: Additional information is as follows: a. Land was sold for cash at its carrying amount. b. The short-term investments will mature in February 2022. c. Cash dividends were declared and paid in 2021. d. New equipment with a cost of $167,500 was purchased for cash, and old equipment was sold at its carrying amount. e. Long-term notes of $17,500 were paid in cash, and notes of $37,500 were converted to shares