The following are the ending balances of accounts at December 31, 2021, for the Valley Pump Corporation. Account Title Cash Accounts receivable Inventory Interest payable Investment in equity securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net) Prepaid expenses (next 12 months) Accounts payable Deferred revenue (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits $ 31,000 68,000 93,000 $ 16,000 56,000 132,000 330,000 106,000 87,000 31,000 18,000 38,000 71,000 26,000 280,000 6,000 260,000 57,000 $853,000 $853,000 Additional Information: 1. The $132,000 balance in the land account consists of $106,000 for the cost of land where the plant and office buildings are located. The remaining $26,000 represents the cost of land being held for speculation. 2. The $56,000 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 $112,000 note due in six months and a $168,000 note due in three annual installments of $56,000 each, with the first payment due in August of 2022