The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Account Title Debits Credits Cash $ 42,000 Accounts receivable 90,000 Inventory 115,000 Interest payable $ 27,000 Investment in equity securities 78,000 Land 154,000 Buildings 385,000 Accumulated depreciation-buildings 117,000 109,000 Accumulated depreciation equipment 42,000 Copyright (net) 29,000 Prepaid expenses (next 12 months) 49,000 82,000 Deferred revenue (next 12 months) 37,000 335,000 Allowance for uncollectible accounts 7.000 Common stock 370,000 Retained earnings 34,000 Totals $1,051,000 $1,051,000 Additional Information: 1. The $154,000 balance in the land account consists of $117,000 for the cost of land where the plant and office buildings are located. The remaining $37,000 represents the cost of land being held for speculation 2. The $78,000 balance in the investment in equity securities account represents an investment in the common stock of another corporation. Valley intends to sell one-half of the stock within the next year. 3. The notes payable account consists of a $134,000 note due in six months and a $201.000 note due in three annual installments of $67,000 each with the first payment due in August of 2022