The income statement, balance sheets, and additional information for Track inc. are provided. Track Inc Balance Sheets December, 31 Assets 2019 Current Assets: Cash Aocounts receivable Inventory Prepaid rent $340,00083,000121,0007,000$187,00095,000138,0005,000 Long-Term Assets: Investment in stock Land Equipment Accumulated depreciation Total Assets 126,000230,000285,000140,000$1,052,000100,000260,000225,000100,000$910,000 Liabilities and Stockholders' Equity Current Llabilities: Accounts payable Interest payable Income tax payable Long-Term Liabiilies: Notes payable 265,000205,000 Stockholders' Equity. Common stock Retained earnings Total Liabilities and Equity $40,0001,00012,000$58,0002,00010,000 Additional Information for 2019: 1. Purchase additional investment in stocks for $26,000. 2. Sell land costing $30,000 for $34,000 resulting in a $4,000 gain on sale of land. 3. Issue common stock in exchange for cash $50,000. 4. Declared and paid a cash dividend of $35,000. 5. Purchase $60,000 in equipment by borrowing $60,000 with a note payable due in three years. No cash is exchanged in the transaction