12 Waddell Company had the following balances in its accounting records as of December 31 Yeart $7,500 $35.000 9.000 51,cee $95, C Liabilities and Equity Accounts Payable on Stock Retained Earnings Total Total 47,500 The following accounting events apply to Waddell Company's Year 2 fiscal year Hay Jan. 1 Acquired $20,000 cash from the issue of common stock. Feb. 1 Paid $6,000 cash in advance for a one-year lease for office space Mar. 1 Paid a $2,000 cash dividend to the stockholders. Apr. 1 Purchased additional land that cost $15,000 cash. 1 Made a cash paywent on accounts payable of 35,00 July 1 Received 59,600 cash in advance as a retainer for devices to be performed monthly over the coming year. Sept. 1 sold land for $30,000 cash that had originally cost $30,000 1 Purchased $2,500 of supplies on account Dec. 31 Earned $58,000 of service revenue on account thing the year 31 Received cash collections from accounts receivable unting 40.000 31 Incurred other operating expenses on account during the year that amounted to $2,000 31 Recognized accrued salaries expense of 36,500 31 Had 350 of supplies on hand at the end of the period 31 The land purchased on April 1 had a market value of $20,000 Required Based on the preceding information, answer the following questions for Waddell Company. Al statements. (Hint Enter items in general ledger accounts under the accounting equation before answering the questions i ons pertain to the Year 2 financial a. What amount would Waddell report for land on the balance sheet? b. What amount of net cash flow from operating activities would be reported on the statement of cash flow c. What amount of rent expense would be reported on the income statement? d. What amount of total liabilities would be reported on the balance sheet? e. What amount of supplies expense would be reported on the income f. What amount of unearned revenue would be reported on the balance sheet? g. What amount of net cash flow from investing activities would be reported on the statement of cash h. What amount of total expenses would be reported on the income statement? 1. What total amount of service revenue would be reported on the income statement 1. What amount of cash flows from financing activities would be reported on the statement of cash flo k. What amount of net income would be reported on the income statement? 1. What amount of retained earnings would be reported on the balance sheet Complete this question by entering your answers in the tabs below k. What amount of net income would be reported on the income statement? 1. What amount of retained earnings would be reported on the balance sheet? Complete this question by entering your answers in the tabs below. Accounting Equation Req A to L What amount would Waddell report for land on the balance sheet? What amount of net cash flow from operating activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) What amount of rent expense would be reported on the income statement? (Do not round Intermediate calculations.) What amount of total liabilities would be reported on the balance sheet? What amount of supplies expense would be reported on the income statement? What amount of unearned revenue would be reported on the balance sheet? (Do not round intermediate calculations.) What amount of net cash flow from investing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) What amount of total expenses would be reported on the income statement? (Do not round Intermediate calculations.) What total amount of service revenue would be reported on the income statement? (Do not round Intermediate calculations.) What amount of cash flows from financing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) What amount of net income would be reported on the income statement? (Do not round intermediate calculations.) What amount of retained earnings would be reported on the balance sheet? (Do not round Intermediate calculations.) Show less a Land b. Net cash flow from operating activities c. Rent expense d. Total liabilities e Supplies expense f. Unearned revenue g Net cash flow from investing activities h. Total expenses 1. Service revenue Cash flows from financing activities k. Net income 1. Retained earnings