Comparative balance sheets for Sunland Company are presented as follows. Sunland Company Comparative Balance Sheets December 31 Assets 2019 Cash $72,750 Accounts receivable 84,650 Inventory 180,300 Land 75,150 Equipment 249.800 Accumulated depreciation equipment (66,300) Total $596,350 Liabilities and Stockholders' Equity Accounts payable $33.800 Bonds payable 150,100 Common stock ($1 par) 214,300 Retained earnings 198,150 Total $596,350 2018 $21,600 76,600 188.900 101.100 199.700 (42,500) $545,400 $47,850 200,300 164.800 132,450 $545,400 Additional information: 1. Net income for 2019 was $135,300. 2. Cash dividends of $69,600 were declared and paid. 3. Bonds payable amounting to $50,200 were redeemed for cash $50.200. 4. Common stock was issued for $49,500 cash. 5. Depreciation expense was $23,800. 6. Sales revenue for the year were $976,300. 7. Land was sold at cost and equinment was nurchased for cash. Sunland Company Worksheet Statement of Cash Flows For the Year Ended December 31, 2019 Reconciling Items Balance 12/31/18 Debit Credit Balance 12/31/19 Balance Sheet Accounts Debits Cash Accounts receivable Inventory Land Equipment Total Credits Accumulated depreciation-equipment Accounts payable Bonds payable Common stock Retained earnings Total Statement of Cash Flow Effects Totals Totals