The following is a December 31, 2021, post-closing trial balance for Almway Corporation.

Account Title	Debits					Credits
Cash		$	79,000
Investment in equity securities			144,000
Accounts receivable			77,000
Inventory			217,000
Prepaid insurance (for the next 9 months)			5,000
Land			124,000
Buildings			437,000
Accumulated depreciationbuildings					$	117,000
Equipment			127,000
Accumulated depreciationequipment						77,000
Patent (net)			27,000
Accounts payable						109,000
Notes payable						181,000
Interest payable						37,000
Bonds Payable						257,000
Common stock						351,000
Retained earnings						108,000
Totals		$	1,237,000		$	1,237,000

Additional information:

1. The investment in equity securities account includes an investment in common stock of another corporation of $47,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year.
2. The land account includes land which cost $42,000 that the company has not used and is currently listed for sale.
3. The cash account includes $32,000 restricted in a fund to pay bonds payable that mature in 2024 and $40,000 restricted in a three-month Treasury bill.
4. The notes payable account consists of the following:

1. a $47,000 note due in six months.
2. a $67,000 note due in six years.
3. a $67,000 note due in five annual installments of $13,400 each, with the next installment due February 15, 2022.

5. The $77,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $4,000.
6. The common stock account represents 117,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized.

ALMWAY CORPORATION Balance Sheet At December 31, 2021 Assets Current assets: Cash and cash equivalents S 47,000 97,000 Investment in equity securities Accounts receivable 77,000 Inventory 217,000 Net accounts receivable 294,000 Prepaid insurance 5,000 Total current assets 443,000 Investments: Common stock Land held for sale 47,000 42,000 32,000 Total investments 121,000 Property, plant, and equipment: Land Buildings 82,000 437,000 127,000 Equipment 646,000 Add: Accumulated depreciation - buildings 117,000 577,000 Add: Accumulated depreciation - equipment Net property, plant, and equipment 1,340,000 Intangible assets: Intangible assets: Total assets S 1,904,000 Liabilities and Shareholders' Equity Current liabilities: Total current liabilities 0 Long-term liabilities: Total long-term liabilities 0 Total liabilities 0 Shareholders' equity: Total shareholders' equity 0 5 Total liabilities and shareholders' equity S 0