On January $1,2025,$ a new Board of Directors was elected for Sheridan Hospital. The new board switched to a different accountant. After reviewing the hospital's books, the accountant decided that the accounts should be adjusted. Effective January $1,2025,$ the board decided that

Separate funds should be established for the General Fund, the Sheridan Endowment Fund, and the Plant Replacement and Expansion Fund $($the old balances will be reversed to eliminate them$).$

The accounts should be maintained in accordance with fund accounting principles. The balances in the general ledger at January $1,2025,$ are presented here:

$\backslash$table$[[$Cash$,$$$55,000,],[$Investment in U$.$S$.$ treasury bills,$98,000,],[$Investment in common stock,$389,000,],[$Interest receivable,$4,000,],[$Accounts receivable,$40,000,],[$Inventory$,24,000,],[$Land$,375,000,],[$Building$,249,000,],[$Equipment$,305,000,],[$Allowance for depreciation,,$$408,000$