Comparative Balance Sheets December 31 Assets 2022 Cash $72,080 Accounts receivable 53,000 Inventory 160.537 Prepaid expenses 16,197 Land 153,700 Buildings 212.000 Accumulated depreciation-buildings (63.600) Equipment 238,500 Accumulated depreciation-equipment (47,700) Total $794,714 2021 $ 47,700 61.480 150.520 22.260 137,800 212,000 (42.400) 164.300 (37,100) $716,560 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock $1 par Retained earnings Total $ 47,414 318,000 212,000 217.300 $794,714 $ 38,160 318,000 169,600 190.800 $716,560 Additional information: 1. 2. 3. 4. 5. Operating expenses include depreciation expense of $44.520 ($21,200 of depreciation expense for buildings and $23,320 for equipment). Land was sold for cash at book value. Cash dividends of $12,720 were paid. Net income for 2022 was $39.220. Equipment was purchased for $97,520 cash. In addition, equipment costing $23,320 with a book value of $10,600 was sold for $8.480 cash. 42.400 shares of $1 par value common stock were issued in exchange for land with a fair value of $42,400 6. Sunland Company Statement of Cash Flows Adjustments to reconcile net income to V v $ $