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I already posted this question once and the individual who answered is copied from another chegg answer which is incorrect because some questions are di
I already posted this question once and the individual who answered is copied from another chegg answer which is incorrect because some questions are di
Condensed financial data of Oriole Company follow. Liabilities and Stockholders' Equity Accounts payable $111,800$67,300 Accrued expenses payable 16,50017,200 Bonds payable \begin{tabular}{lrrr} Common stock & 220,400 & & 175,700 \\ Retained earnings & 247,200 & & 104,000 \\ \( { \)\cline { 2 - 2 } \cline { 2 - 2 }\( } } \) & $706,700 & & $513,400 \\ \hline \end{tabular} Oriole Company Income Statement For the Year Ended December 31, 2022 Sales revenue $391,500 Less: Cost of goods sold $134,500 Operating expenses, excluding depreciation 13,000 Depreciation expense 31,900 Income tax expense 28,000 Interest expense 4,900 Additional information: 1. New plant assets costing $79,100 were purchased for cash during the year. 2. Old plant assets having an original cost of $46,400 and accumulated depreciation of $36,000 were sold for $2,900 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $28,500 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactions. Condensed financial data of Oriole Company follow. Liabilities and Stockholders' Equity Accounts payable $111,800$67,300 Accrued expenses payable 16,50017,200 Bonds payable \begin{tabular}{lrrr} Common stock & 220,400 & & 175,700 \\ Retained earnings & 247,200 & & 104,000 \\ \( { \)\cline { 2 - 2 } \cline { 2 - 2 }\( } } \) & $706,700 & & $513,400 \\ \hline \end{tabular} Oriole Company Income Statement For the Year Ended December 31, 2022 Sales revenue $391,500 Less: Cost of goods sold $134,500 Operating expenses, excluding depreciation 13,000 Depreciation expense 31,900 Income tax expense 28,000 Interest expense 4,900 Additional information: 1. New plant assets costing $79,100 were purchased for cash during the year. 2. Old plant assets having an original cost of $46,400 and accumulated depreciation of $36,000 were sold for $2,900 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $28,500 was declared and paid during the year. 5. Common stock was issued at par for cash. 6. There were no significant noncash transactionsStep by Step Solution
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