The income statement, balance sheets, and additional information for Track Inc. are provided. Track Inc Balance Sheet For the Year Ended December 31, 2019 Assets 2019 Current Assets: Cash Accounts receivable Inventory Prepaid rent 7,000 $187,000 Long-Term Assets: Investment in stock Land Equipment Accumulated depreciation Total Assets $1,088,000 186,000 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable Interest payable Income tax payable Long-Term Liabilities: Notes payable 285,000 Stockholders' Equity: Common stock Retained earnings Total Liabilities and Equity 400,000350,000$1,088,000350,000285,000$910,000 Additional Information for 2019 : 1. Purchase additional investment in stocks for $86,000. 2. Sell land costing $90,000 for $100,000 resulting in a $10,000 gain on sale of land. 3. Issue common stock in exchange for cash $50,000. 4. Declared and paid a cash dividend of $25,000. 5. Purchase $80,000 in equipment by borrowing $80,000 with a note payable due in three years. No cash is exchanged in the transaction