The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset Accounts Cash Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation D = Decrease; I = Increase. $ 21 D $ 251 $ 2e1 $ 22 D $ 41e 1 $ 851 Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Accounts $ 651 $ 25 D $ 212 1 $ lee D $ 851 Long-term investments that cost the company $22 were sold during the year for $48 and land that cost $47 was sold for $25. In addition, the company declared and paid $19 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock. The company's income statement for the year follows: Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Loss on sale of land Gain on sale of investments Income before taxes Income taxes Net income $(22) 26 $1, ese 460 590 430 160 4 164 60 le4 The company's beginning cash balance was $130 and its ending balance was $109.