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please highlight answers for each question, thanks! Waddell Company had the following balances on its accounting records as of December 31. Year 1: Assets Liabilities

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Waddell Company had the following balances on its accounting records as of December 31. Year 1: Assets Liabilities & Equity Cash $35.000 A/P $7.500 A/R 9.000 Common Stock 40,000 Land 51000 Retained Earnings 47.500 Total $95000 595.000 The following accounting events apply to Waddell Company's Year 2 fiscal year. Acquired $20,000 cash from the issue of common stock Jan 1 Feb 1 Paid $6,000 cash in advance for a one year lease for office space Paid a $2,000 cash dividend to the stockholders. Mar 1 May 1 Made a cash payment on accounts payable of $5,500 Received $9,600 cash in advance as a retainer for services to be performed monthly over the coming twelve months. Jul 1 Sep 1 Oct 1 Borrowed $30,000 from the bank at an annual interest rate of 3%. The note will be repaid in three years. Interest is paid annually on August 31. Purchased $2,500 of supplies on account Earned $58,000 of service revenue on account during the year. Received cash collections from customers amounting to 545.000 incurred other operating expenses on account during the year that amounted to Dec 31a Dec 31b Dec 31c $28,000. Dec 310 Recognized accrued salaries expense of S6.500. Dec 31e Had $500 of supplies on hand at the end of the period Dec 311 Recognized interest expense incurred during Year 2. How much interest expense did Waddell recognize in Year 2? Do not include dollar signs or commas in your answers Question 2 1 pts What is the value of Total Assets at the end of Year 2? DQuestion 3 1 pts What Net Income amount will Waddell report on its Year 2 Income Statement? 1 pts Question 4 What is the ending balance of the Retained Earnings account after closing Year 2? 1 pts Question 5 How many liability accounts appear on the Year 2 Balance Sheet? 1 pts Question 6 What is the net cash flow from operating activities for Year 2

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