LUPALLI ions The comparative balance sheets for Splish Brothers Company appear below: ences rations SPLISH BROTHERS COMPANY Comparative Balance Sheet LUS Support Assets Dec 31, 2022 Dec. 31, 2021 $34,400 $12,000 Cash 17,500 13,000 Accounts receivable 15,700 Inventory 39,200 7,900 9.700 Prepaid insurance 17.500 Stock investments 60,000 30,000 Equipment Accumulated depreciation-equipment (17,200) (10,600) $87,300 Total assets $141,800 Liabilities and Stockholder's Equity Accounts payable $27,600 $8,200 Bonds payable 38,400 47,800 Common stock 22,500 40,300 35,500 Retained earnings 8,800 Total liabilities and stockholder's equity $141.800 $87,300 Additional information: 1. Net income for the year ending December 31, 2022, was $43,000. 2 Cash dividends of $14,500 were declared and paid during the year. 3. Stock investments on balance sheet that had a book value of $15.700 were sold for $10,500. 4. Sales for 2022 are $150,000. LUPALLI ions The comparative balance sheets for Splish Brothers Company appear below: ences rations SPLISH BROTHERS COMPANY Comparative Balance Sheet LUS Support Assets Dec 31, 2022 Dec. 31, 2021 $34,400 $12,000 Cash 17,500 13,000 Accounts receivable 15,700 Inventory 39,200 7,900 9.700 Prepaid insurance 17.500 Stock investments 60,000 30,000 Equipment Accumulated depreciation-equipment (17,200) (10,600) $87,300 Total assets $141,800 Liabilities and Stockholder's Equity Accounts payable $27,600 $8,200 Bonds payable 38,400 47,800 Common stock 22,500 40,300 35,500 Retained earnings 8,800 Total liabilities and stockholder's equity $141.800 $87,300 Additional information: 1. Net income for the year ending December 31, 2022, was $43,000. 2 Cash dividends of $14,500 were declared and paid during the year. 3. Stock investments on balance sheet that had a book value of $15.700 were sold for $10,500. 4. Sales for 2022 are $150,000