Following are Crash Zone Corporation’s balance sheet at the end of 20X0 and its cash flow statement for 20X1. Crash Zone manufactures safety equipment for race cars.

Balance Sheet as of December 31, 20X0
Assets
Current assets
Cash ............................................................................................................. $ 8,250
Accounts receivable—net ............................................................................ 7,110
Inventory ...................................................................................................... 14,221
Prepaid expenses ......................................................................................... 1,850
Total current assets ................................................................................... 31,431
Land ............................................................................................................. 30,278
Building and equipment .......................................................................... 222,665
Less: Accumulated depreciation, building and equipment ................. (41,115)
Total assets ............................................................................................. $ 243,259
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable .................................................................................... $ 13,500
Accrued expenses ....................................................................................... 4,888
Total current liabilities .............................................................................. 18,388
Long-term debt ......................................................................................... 31,500
Stockholders’ equity
Common stock, $10.00 par value ........................................................... 21,552
Additional paid-in capital ........................................................................ 45,002
Retained earnings .................................................................................. 146,872
Less: Treasury stock ................................................................................ (20,055)
Total liabilities and stockholders’ equity .......................................... $ 243,259

Statement of Cash Flows for Year Ended December 31, 20X1
Operating activities
Net income ............................................................................................... $ 15,750
Plus (minus) noncash items
+ Depreciation expense .............................................................................. 6,210
Plus (minus) changes in current asset and liability accounts
− Increase in inventory ................................................................................ (350)
+ Decrease in prepaid assets ....................................................................... 102
− Decrease in accrued expenses ................................................................ (655)
− Increase in accounts receivable ........................................................... (3,178)
− Decrease in accounts payable .............................................................. (1,230)
Cash provided by operating activities ................................................... 16,649
Investing activities
Purchase of equipment ......................................................................... (27,910)
Proceeds from the sale of land ................................................................ 6,555
Cash used by investing activities ........................................................... (21,355)
Financing activities
Issuance of long-term debt ....................................................................... 8,900
Issuance of common stock ...................................................................... 23,000
Cash dividends paid ............................................................................... (12,200)
Purchase of treasury stock ...................................................................... (7,513)
Cash provided by financing activities .................................................... 12,187
Net cash flow .............................................................................................. $ 7,481

Additional Information:
a. During 20X1, 500 shares of common stock were sold to the public.

b. Land was sold during 20X1 at an amount equal to its original cost.

Required:

Use the preceding information to derive Crash Zone’s balance sheet at the end of 20X1.