The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Debits Credits Cash $ 65,000 Investment in equity securities 130,000 Accounts receivable 70,000 Inventory 210,000 Prepaid insurance (for the next 9 months) 8,000 Land 110,000 Buildings 430,000 Accumulated depreciation-buildings $ 110,000 Equipment 120,000 Accumulated depreciation-equipment Patent (net) Accounts payable Notes payable Interest payable Bonds Payable Common stock 70,000 20,000 95,000 160,000 30,000 250,000 330,000 Retained earnings Totals 118,000 $1,163,000 $1,163,000 Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $40,000 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 $35,000 that the company has not used and is currently listed for sale. 3. The cash account includes $25,000 restricted in a fund to pay bonds payable that mature in 2024 and $33,000 restricted in a three-month Treasury bill. 4. The notes payable account consists of the following: a. a $40,000 note due in six months. b. a $60,000 note due in six years. c. a $60,000 note due in five annual installments of $12,000 each, with the next installment due February 15, 2022. 5. The $70,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $7,000. 6. The common stock account represents 110,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized.