6 of 6 > Presented here are the financial statements of Sunland Company. Sunland Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $37,100 $21,000 Accounts receivable 32.600 18,900 Inventory 29,900 20,900 Property, plant, and equipment 59,200 77,400 Accumulated depreciation (29.900) (23,600 ) Total $128,900 $114,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $28.000 $16,700 7,500 8,500 27.700 33,300 18.300 14.400 47,400 41,700 $128,900 $114,600 -/1 E Question 6 of 6 Sunland Company Income Statement For the Year Ended December 31, 2022 Sales revenue $242,500 Cost of goods sold 176.900 Gross profit 65,600 Selling expenses $18,000 Administrative expenses 6,000 24,000 Income from operations 41,600 Interest expense 3,100 Income before income taxes 38,500 Income tax expense 7,700 Net income $30,800 Additional data: Depreciation expense was $15,700. 1. 2 Dividends declared and paid were $25,100. 3. During the year equipment was sold for $8,800 cash. This equipment cost $18,200 originally and had accumulated depreciation of $9.400 at the time of sale. -/1 Sunland Company Statement of Cash Flows For the Year Ended December 31, 2022 For the Month Ended December 31, 2022 December 31, 2022 Adjustments to reconcile net income to 4 4 Question 6 of 6 Increase in Income Taxes Payable Increase in Accounts Receivable Increase in Accounts Payable Redemption of Bonds Decrease in Accounts Payable To Suppliers Issuance of Bonds Decrease in Accounts Receivable Purchase of Equipment Depreciation Expense Decrease in Inventory Payment of Dividends For Interest Sale of Equipment Issuance of Common Stock Redemption of Common Stock Increase in Inventory Decrease in Income Taxes Payable For Operating Expenses For Income Taxes Net Income Sunland Company Statement of Cash Flows ie to -/1 Question 6 of 6 Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Save for Later $ Attempts: unlimited Submit