The table below lists names and dollar amounts for accounts from Apex Corporation as of 12/31/19. Accounts payable $220,000 Inventories $375,000 Accounts receivable $450,000 Land $100,000 Accrued expenses $ 55,000 Long-term debts $420,000 Accumulated depreciation $265,000 Machinery $420,000 Buildings $225,000 Marketable securities $ 75,000 Cash $215,000 Notes payable $475,000 Common stock (par value) $ 90,000 Paid-in capital $360,000 Cost of goods sold $2,500,000 Preferred stock $100,000 Depreciation expense $ 45,000 Retained earnings $210,000 Equipment $140,000 Sales $3,600,000 Administrative expense $320,000 Vehicles $ 25,000 Furniture & fixtures $170,000 Interest expense $ 27,000 In addition, Apex Corporation pays taxes at a rate of 40%