Postclosing trial balance data and other financial data for Cman Company as of December $31,20$X$2$ and $20$X$1,$ follow.

CMAN COMPANY

Postclosing Trial Balance

December $31,20$X$2$ and $20$X$1$

$20$X$220$X$1$

Account Name Debit Credit Debit Credit

Cash $ $83,600$ $ $80,100$

Accounts Receivable $($Net$)91,10085,800$

Merchandise Inventory $62,55066,050$

Prepaid Expenses $2,6202,060$

Land $67,00036,000$

Plant and Equipment $177,000111,000$

Accumulated Depreciation$$Plant and Equipment $ $17,700$ $ $11,100$

Intangible Assets $5,0005,600$

Notes Payable$$Short Term $5,6009,200$

Accounts Payable $25,35030,950$

Payroll Taxes Payable $2,6202,460$

Income Taxes Payable $1,3002,600$

Mortgage Payable, $20$X$9127,000131,000$

$8\%$ Bonds Payable, $20$X$446,0000$

Common Stock $$1$ par $56,00046,000$

Retained Earnings $207,300153,300$

Totals $ $488,870$ $ $488,870$ $ $386,610$ $ $386,610$

Additional information for the year follows:

Sold common stock for $$10,000$ in cash.

Had net income of $$75,000$ after income taxes.

Sold bonds payable for $$46,000$ cash at par value.

Completed an addition to the plant and equipment for $$66,000$ in cash.

Bought additional land for $$31,000$ in cash.

Paid common stock dividends of $$21,000$ in cash.

Amortized intangible assets for $$600.$

The short$-$term note payable resulted from operating activities, not borrowing or financing activities.