ce spreadsneet.) s as me 's Dea dis vide vide Conrad Air, Inc. Balance Sheet as of December 31, 2021 Assets Cash Marketable securities Accounts receivable Inventories Current assets Equipment Buildings Fixed assets Total assets $117,000 38,000 50,000 127,000 $332,000 $2,976,000 1,598,000 $4,574,000 $4,906,000 no Round balan arketal tained mount baid div heet wil ong-terT Liabilities and Stockholders' Equity Accounts payable Short-term notes Current liabilities Long-term debt Total liabilities Common stock Retained earnings Stockholders' equity Total liabilities and equity $69,000 58,000 $127,000 $2,713,000 $2,840,000 $501,000 1,565,000 $2,066,000 $4,906,000 retained t transfe paid divi bet will be buildings d retained Print Done Effect of net income on a firm's balance sheet Conrad Air, Inc., reported net income of $1,373,000 for the year ended December 31, 2022 Show how Conrad's balance sheet would change from 2021 to 2022 depending on how Conrad spent" those earnings as described in the scenarios that appear below. a. Conrad paid no dividends during the year and invested the funds in marketable securities. b. Conrad paid dividends totaling $498,000 and used the balance of the net income to retire (pay off) long-term debt. c. Conrad paid dividends totaling $498,000 and invested the balance of the net income in building a new hangar. 12 NG 3 a. If Conrad paid no dividends during the year and Invested the funds in marketable securities, the amount transferred to the balance sheet will be $1,373,000 (Round to the nearest dollar) The revised marketable securities will be $1.411,000) (Round to the nearest dollar) The revised retained earnings will be $2,038,000) (Round to the nearest dollar) b. W Conrad paid dividends totaling $498,000 and used the balance of the net income to retire (pay olt) long-term debt, the amount transferred to the balance sheet will be $ 875,000. (Round to the nearest dollar) The rewned long-term debt will be $(Round to the nearest dollar) The revised retained earrings will be $(Round to the nearest dollar) 6. If Conrad paid dividends totaling $498,000 and invested the balance of the net income in bolding a new hangar, the amount transferred to the balance sheet will be $ (Round to the nearest dollar) The revived buildings will be $(Round to the nearest dollar) The revined retained camins will be $ (Round to the nearest dollar) s