ACC 202 Chapter 12 Open-Ended Assignment Note: Please put your answers only in the section below the Bold Red at the end of the Required section below. GeDook Company's most recent balance sheet, income statement, and other important information for 2022 are presented below Balance Sheets 2021 Cash 715,000 Accounts receivable 540,000 leventory 405,000 355,000 Prepaid expenses 54,000 71,000 Property, plant, and equipment 1011000 $10,000 Accumulated depreciation -612,000 $10,000 Long-term investments 283,000 340,000 Total acts 2.519,000 2.421.000 Accounts payable 10000 172,000 Accrued liabilities 35,000 $9,000 Interest payable 44,000 30,000 Income tax payable 30,000 21,000 Bonds payable 214,000 28,000 Common stock 1,341,000 1336,000 Retained comings 740,000 785,000 To&oquit 2.519,000 2421,000 Income Statement For the Year Ended Dec. 31, 2022 Sales Cost of goods sold Gross margin Operating expenses 100,000 1222,000 $78,000 200,000 Depreciation expense 270,000 Operating income 28,000 Intere expense 24.000 Gain on sale of equipment 9,000 Lon on sales of long-term investment -3,000 Income before taxes 10,000 Income tax expense 3,000 Net income 7,000 Additional data for 2022 1. Sold equipment with a book value of $30,000-$198.000- $168,000 accumulated depreciation) for $39,000 ca 2. Purchased equipment for $299,000 cash 3. Sold long-term investments for $64,000 cash. These investments had an original cost of $67,000 4. Panchased long-term investments for $10,000 cash 5. lasued bonds for $186,000 cash 6. Issued common stock for $22,000 cash 7. Declared and paid $52,000 in cash dividends