The Diversified Portfolio Corporation provides investment advice to customers. A condensed income statement for the year ended December 31, 2024, appears below: Service revenue $ 900,000 Operating expenses 700,000 Income before income taxes 200,000 Income tax expense 50,000 Net income $ 150,000 The following balance sheet information also is available: 12/31/2024 12/31/2023 Cash $ 305,000 $ 70,000 Accounts receivable 120,000 100,000 Accrued liabilities (for operating expenses) 70,000 60,000 Income taxes payable 10,000 15,000 In addition, the following transactions took place during the year: Common stock was issued for $100,000 in cash. Long-term investments were sold for $50,000 in cash. The original cost of the investments also was $50,000. $80,000 in