The comparative balance sheets for XYZ Company as of December 31 are presented below :

Liabilities and Stockholder's Equity

Additional information :

1. Operating expenses included depreciation expenses of Tk. 42,000 and charges from prepaid expenses of Tk. 5,720.
2. Land was sold for cash at book value.
3. Cash dividend of Tk. 20,000 were paid.
4. Net income of the year 2025 was Tk. 42,000.
5. Equipment was purchased for Tk. 88000 cash. In addition, equipment costing Tk. 22,000 with a book value of Tk. 10,000 was sold for Tk. 6,000 cash.
6. Bonds were converted at face value by issuing 40,000 shares of Tk. 1 par value common stock.