1. 2. 3. 4. 5. Operating expenses include depreciation expense of $36,120 ($17,200 of depreciation expense for buildings and $18,920 for equipment). Land was sold for cash at book value. Cash dividends of $10,320 were paid. Net income for 2022 was $31,820. Equipment was purchased for $79,120 cash. In addition, equipment costing $18,920 with a book value of $8,600 was sold for $6,880 cash. 34.400 shares of $1 par value common stock were issued in exchange for land with a fair value of $34,400. 6. 1. 2. 3. 4. 5. Operating expenses include depreciation expense of $36,120 ($17,200 of depreciation expense for buildings and $18,920 for equipment). Land was sold for cash at book value. Cash dividends of $10,320 were paid. Net income for 2022 was $31,820. Equipment was purchased for $79,120 cash. In addition, equipment costing $18,920 with a book value of $8,600 was sold for $6,880 cash. 34.400 shares of $1 par value common stock were issued in exchange for land with a fair value of $34,400. 6