Presented here are the financial statements of Bonita Company.

BONITA COMPANY Comparative Balance Sheets December 31
Assets		2022			2021
Cash		$36,400			$20,800
Accounts receivable		32,700			19,500
Inventory		30,700			20,900
Property, plant, and equipment		59,300			77,300
Accumulated depreciation		(29,700)			(23,300)
Total		$129,400			$115,200
Liabilities and Stockholders Equity
Accounts payable		$28,000			$ 16,600
Income taxes payable		7,000			8,300
Bonds payable		27,400			32,100
Common stock		18,200			13,700
Retained earnings		48,800			44,500
Total		$129,400			$115,200

BONITA COMPANY Income Statement For the Year Ended December 31, 2022
Sales revenue				$241,900
Cost of goods sold				175,600
Gross profit				66,300
Selling expenses		$18,525
Administrative expenses		6,175		24,700
Income from operations				41,600
Interest expense				2,600
Income before income taxes				39,000
Income tax expense				7,800
Net income				$31,200

Additional data:

1.		Depreciation expense was $16,600.
2.		Dividends declared and paid were $26,900.
3.		During the year, equipment was sold for $7,800 cash. This equipment originally cost $18,000 and had accumulated depreciation of $10,200 at the time of sale.
4.		Bonds were redeemed at their carrying value.
5.		Common stock was issued at par for cash.

Question 5 of 5