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Following are selected balance sheet accounts of Del Conte Corp. at December 31, 2021 and 2020, and the increases or decreases in each account
Following are selected balance sheet accounts of Del Conte Corp. at December 31, 2021 and 2020, and the increases or decreases in each account from 2020 to 2021. Also presented is selected income statement information for the year ended December 31, 2021, and additional information. Selected Balance Sheet Accounts 2021 2020 Assets Accounts receivable Increase (Decrease) Property, plant, and equipment Accumulated depreciation Liabilities and Stockholders' Equity $ 60,000 303,000 (204,000) $ 37,000 260,000 $23,000 43,000 (180,000) 24,000 Bonds payable 88,000 72,000 16,000 Dividends payable 14,500 10,200 4,300 Common stock, $1 par 48,000 32,000 16,000 Additional paid-in capital 15,500 8,200 7,300 Retained earnings 130,000 104,000 26,000 Selected Income Statement Information for the Year Ended December 31, 2021 Sales revenue $181,000 Depreciation 59,000 Gain on sale of equipment Net income 19,500 54,000 Additional information: a. Accounts receivable relate to sales of merchandise. b. During 2021, equipment costing $66,000 was sold for cash. c. During 2021, bonds payable with a face value of $46,000 were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium. Required: Items 1 through 5 represent activities that will be reported in Del Conte's statement of cash flows for the year ended December 31, 2021. The following two responses are required for each item:
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