At the beginning of $2024,$ Glasson Academy reported a balance in common stock of $$160,000$ and a balance in retained earnings of $$60,000.$ During the year, the company issued additional shares of stock for $$50,000,$ earned net income of $$40,000,$ and paid dividends of $$11,000.$ In addition, the company reported balances for the following assets and liabilities on December $31.$