The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Account Title Cash Accounts receivable Inventory Debits Credits $ 36,000 78,000 103,000 Interest payable $ 21,000 Investment in equity securities 66,000 Land 142,000 Buildings 355,000 Accumulated depreciation-buildings 111,000 Equipment 97,000 Accumulated depreciation-equipment 36,000 Copyright (net) 23,000 Prepaid expenses (next 12 months) 43,000 Accounts payable 76,000 Deferred revenue (next 12 months) 31,000 Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 305,000 6,000 310,000 47,000 $943,000 $943,000 Additional Information: 1. The $142,000 balance in the land account consists of $111,000 for the cost of land where the plant and office buildings are located. The remaining $31,000 represents the cost of land being held for speculation. 2. The $66,000 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 $122,000 note due in six months and a $183,000 note due in three annual installments of $61,000 each, with the first payment due in August of 2022.