Presented below are selected accounts of Flint Company at December 31, 2020. Inventory (finished goods) $ 59,000 Cost of Goods Sold $2,150,000 Unearned Service Revenue 94,300 Notes Receivable 43,600 Equipment 258,100 Accounts Receivable 156,450 Inventory (work in process) 42,700 Inventory (raw materials) 199,390 Cash 43,400 Supplies Expense 62,150 Debt Investments (trading) 36,900 Allowance for Doubtful Accounts 12,250 Customer Advances 45,400 Licenses 19,190 Restricted Cash for Plant Expansion 55,600 Additional Paid-in Capital 94,870 Treasury Stock 20,560 The following additional information is available. 1. Inventories are valued at lower-of-cost-or-market using LIFO. 2. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is $50,143. 3. The short-term investments have a fair value of $29,510. 4. The notes receivable are due April 30, 2022, with interest receivable every April 30. The notes bear interest at 6%. (Hint: Accrue interest due on December 31, 2020.) 5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $53,300 are pledged as collateral on a bank loan. 6. Licenses are recorded net of accumulated amortization of $14,380. 7. Treasury stock is recorded at cost.