The statement of financial position of Concord Corporation followis for the current year, 2023 : The fallowing additional information is available: $44,000 (at a separate finansial institution). Inventory is stated at the lower of FIFO coat and net real izable value. patents $126,500, nat of acoumulated amortization. 3. Property, plant, and equipment inelude buildings $1,144,000, less accumulated depreciation $396,000; squipment $495,000, less aceumulated depreciation $199,000; land $550,000; and land held for future use $297,000. 4. Intangible assets includs franchise, net of acsumulated amartization, $291,500. 5. Current liabilities include the followinz: accounts payable $154,000; notes payable, short-term $98,000, lonz-term $132,000; and incamz tax payable $44,000. 6. Lonz-term liabilitizs are compoced solely of 7% bonds payable issued at a discount, dus in 2031 . earnings of $319,000 and aceumulated other comprehensive income of $33,000