9.6/2015 Donalty Corporation opened for business on January 1, 2022. The following information is available with regards to their accounts as of December 31, 2022: Accounts payable Accounts receivable Administrative expenses Bank loan Cash Common shares Dividends declared Equipment Insurance expense Interest expense Revenue Salaries expense $2,500 $5,500 $4,500 $55,000 $130,200 $51,000 $1,000 $25,000 $4,800 $4,000 $145,000 $78,500 The following information was also available for the year: Net cash used by operating activities was $50,200 Cash of $25,000 was paid to purchase new equipment Cash of $51,000 was received from the issue of common shares Cash of $55,000 was received from the bank loan Cash of $1.000 was declared and paid for dividends. Donalty Corporation Statement of Income Year Ended December 31, 2022 Revenues $ 145000 Expenses V Salaries Expense 78500 Insurance Expense 4800 Administrative Expenses 4500 Interest Expense 4000 Total Expenses 91800 Net Income/(Loss) 53200 Donalty Corporation. Statement of Changes in Equity Year Ended December 31, 2022 Common Retained Shares Earnings Total Equity alance, Jan. 1 $ > $ 0 0 isued common shares 51000 5100 let Income/(Loss) i 53200 5320 Dividends Declared - 1000 -1000 alance, Jan. 1 $ 51000 $ 52200 $ 10320 DONALTY CORPORATION Statement of Financial Position December 31, 2022 Assets Cash $ 130200 Accounts Receivable 5500 Equipment 25000 Total Assets $ 160700 Liabilities Accounts Payable $ 2500 Bank Loan 55000 Total Liabilities 57500 Common Shares 51000 Retained Earnings 52200 Total Shareholders' Equity 103200 Total Liabilities and Shareholders Equity $ 160700 Statement of Cash Flows Year Ended December 31, 2022 Operating Activities Net Cash Used by Operating Activities 50200 Investing Activities Purchase of Equipment -25000 Net Cash Used by Investing Activities -25000 Financing Activities Issue of Common Shares 51000 Borrowing of Bank Loan 55000 Payment of Dividend -1000 Net Cash Provided by Financing Activities 105000 Net Increase in Cash 130200 Cash, January 1, 2022 0 $ Cash, December 31, 2022 130200 e Textbook and Media Using these statements, indicate each of the following statements that is correct. Oh. The retained earnings at the beginning of the year are $52,200. O e. Total shareholders' equity for the year is $103,200. O c. Total liabilities are $57,500. f. Total assets for the year is $160.700. a. Total net income for the year is $53,200. O b. Total retained earnings for December 31, 2022 is $53,200. d. The net cash provided by financing activities is $106.000. & The net increase in cash for the year is $132.200