The following is a December 31, 2024, 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 2027 and $40,000 restricted in a three-month Treasury bill.
4. The notes payable account consists of the following:
5. a $47,000 note due in six months.
6. a $67,000 note due in six years.
7. a $67,000 note due in five annual installments of $13,400 each, with the next installment due February 15, 2025.
8. The $77,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $4,000.
9. The common stock account represents 117,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized.