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its a long question Waterway Industries Comparative Balance Sheets December 31, 2022 2021 Assets: Current Assets: Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current
its a long question
Waterway Industries Comparative Balance Sheets December 31, 2022 2021 Assets: Current Assets: Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current Assets Long-Term Investments Plant Assets: Property, Plant & Equipment Accumulated Depreciation Total Plant Assets Total Assets $ 1380000 3120000 4000000 700000 9200000 452000 $1100000 2170000 2500000 631000 6401000 4370000 (900000) 3470000 $13122000 2878000 (540000) 2338000 $8739000 $2192000 566000 Equities: Current Liabilities: Accounts Payable Accrued Expenses Dividends Payable Total Current Liabilities Long-Term Notes Payable Stockholders' Equity: Common Stock Retained Earnings Total Equities $2550000 620000 404000 3574000 1651000 2758000 6100000 1797000 $13122000 4700000 1281000 $8739000 Waterway Industries Comparative Income Statements Net Credit Sales Cost of Goods Sold Gross Profit Operating Expenses (including Income Tax) Net Income December 31, 2022 2021 $14040000 $7506000 7831000 3763000 6209000 3743000 5170000 2746000 $1039000 $ 997000 Additional Information: Accouncil and account mari calatt merchandise held for sale in ng: 244 min. Ketained Earnings Total Equities in 1/9/000 $13122000 1281000 $8739000 Waterway Industries Comparative Income Statements Net Credit Sales Cost of Goods Sold Gross Profit Operating Expenses (including Income Tax) Net Income December 31, 2022 2021 $14040000 $7506000 7831000 3763000 6209000 3743000 5170000 2746000 $1039000 $ 997000 Additional Information: a. Accounts receivable and accounts payable relate to merchandise held for sale in the normal course of business. The allowance for bad debts was the same at the end of 2022 and 2021, and no receivables were charged against the allowance. Accounts payable are recorded net of any discount and are always paid within the discount period. b. The proceeds from the note payable were used to finance the acquisition of property, plant, and equipment. Capital stock was sold to provide additional working capital. What amount of cash was paid on accounts payable to suppliers during 2022? $8313000 $8973000. $7593000 $9331000. Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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