A comparative balance sheet for Lomax Company containing data for the last two years is as follows:

The following additional information is available about the company's activities during this year:

a$.$ The company declared and paid a cash dividend this year.

b$.$ Bonds with a principal balance of $$394,000$ were repaid during this year.

c$.$ Equipment was sold during this year for $$77,000.$ The equipment had cost $$158,000$ and had $$56,800$ in accumulated depreciation on the date of sale.

d$.$ Long$-$term investments were sold during the year for $$138,000.$ These investments had cost $$62,600$ when purchased several years ago.

e$.$ The subsidiaries did not repay any outstanding loans during the year.

f$.$ Lomax did not repurchase any of its own stock during the year.

The company reported net income this year as follows:

$\backslash$table$[[\backslash$table$[[$Sales$],[$Cost of goods sold$]],\backslash$table$[[$$$3,280,000$