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2. The Towing are une eng balances O COUNS Lecember 31, 2021, O Vam rump codon 75 oints ebook Print 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 s 14,000 94,000 119,000 $ 29,000 82,000 158,000 395,000 119,000 113,000 44,000 31,00 51,000 84,000 39,000 345,000 6,000 390,000 31,000 $1,087,000 $1,087,000 Reference Additional Information: 1. The $158.000 balance in the land account consists of $119.000 for the cost of land where the plant and office buildings are located. The remaining $39.000 represents the cost of land being held for speculation 2. The $82.000 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 $138,000 note due in six months and a $207.000 note due in three annual installments of $69.000 each with the first payment due in August of 2022 Balance Sheet At December 31, 2021 Assets Current assets Total current assets 0 Investments 0 Total investments Property, plant, and equipment 2. Total investments Property, plant, and equipment 1.75 points eBook 0 Print References 0 Net property, plant, and equipment Intangible assets Total assets $ 0 Liabilities and Shareholders' Equity Current liabilities Total current liabilities 0 Long-term liabilities Saved Total assets S 0 Liabilities and Shareholders' Equity Current liabilities: Total current liabilities 0 Long-term liabilities: Total liabilities 0 Shareholders' equity 0 Total shareholders' equity Total liabilities and shareholders' equity 0

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