1. For each item below, indicate the type of business activity: operating activities, investing activities, or financing activities.

(a)				Cash received from customers.
(b)				Cash paid to stockholders (dividends).
(c)				Cash received from issuing new common stock.
(d)				Cash paid to suppliers.
(e)				Cash paid to purchase a new office building.

2.

The following information is available for Sunland Inc.

Accounts receivable		$2,784		Cash		$7,250
Accounts payable		4,292		Supplies		4,358
Interest payable		680		Unearned service revenue		986
Salaries and wages expense		5,220		Service revenue		47,460
Notes payable		36,540		Salaries and wages payable		866
Common stock		58,812		Depreciation expense		770
Inventory		3,298		Equipment (net)		125,512

Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount.) (List Assets in order of liquidity.)

Sunland, Inc. Balance Sheet chooose the accounting period For the Month Ended December 31, 2022December 31, 2022For the Year Ended December 31, 2022
Assets
enter a balance sheet item					$ enter a dollar amount
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select a closing section name for this part of the balance sheet Stockholders' EquityTotal AssetsTotal Long-Term InvestmentsLiabilitiesTotal LiabilitiesAssetsTotal Intangible AssetsProperty, Plant and EquipmentLong-Term InvestmentsTotal Liabilities and Stockholders' EquityIntangible AssetsTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityLong-Term Liabilities					$ enter a total amount for this part of the balance sheet
Liabilities and Stockholders' Equity
select an opening name for section one Stockholders' EquityTotal Liabilities and Stockholders' EquityIntangible AssetsTotal Stockholders' EquityLiabilitiesTotal LiabilitiesTotal Long-Term InvestmentsLong-Term LiabilitiesTotal Intangible AssetsLong-Term InvestmentsTotal AssetsProperty, Plant and EquipmentTotal Long-Term LiabilitiesTotal Property, Plant and EquipmentAssets
enter a balance sheet item			$ enter a dollar amount
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select a closing name for section one Total LiabilitiesAssetsTotal AssetsTotal Property, Plant and EquipmentLong-Term InvestmentsTotal Stockholders' EquityLiabilitiesStockholders' EquityLong-Term LiabilitiesTotal Long-Term LiabilitiesTotal Intangible AssetsProperty, Plant and EquipmentTotal Liabilities and Stockholders' EquityIntangible AssetsTotal Long-Term Investments					$ enter a total amount for this section of the balance sheet
select an opening name for section two Property, Plant and EquipmentLong-Term LiabilitiesLong-Term InvestmentsStockholders' EquityTotal Stockholders' EquityTotal Liabilities and Stockholders' EquityIntangible AssetsTotal Long-Term InvestmentsLiabilitiesTotal Long-Term LiabilitiesAssetsTotal Intangible AssetsTotal Property, Plant and EquipmentTotal LiabilitiesTotal Assets
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for section two LiabilitiesTotal AssetsTotal Liabilities and Stockholders' EquityTotal Property, Plant and EquipmentTotal LiabilitiesLong-Term InvestmentsTotal Long-Term InvestmentsStockholders' EquityLong-Term LiabilitiesTotal Intangible AssetsTotal Long-Term LiabilitiesIntangible AssetsTotal Stockholders' EquityProperty, Plant and EquipmentAssets					enter a total of the two previous amounts
select a closing name for this part of the balance sheet Total Intangible AssetsLiabilitiesTotal AssetsTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Long-Term InvestmentsTotal Long-Term LiabilitiesAssetsTotal LiabilitiesTotal Property, Plant and EquipmentLong-Term LiabilitiesProperty, Plant and EquipmentIntangible AssetsLong-Term InvestmentsStockholders' Equity					$ enter a total amount for this part of the balance sheet