Problem 3: Horizontal Analysis BALANCE SHEET- Troy Company Financial Statements for the year INCOME STATEMENT-- CASH STATEMENT- Common Retained Cash LAND = AP NP Y Revenue Expense Net Income OA Stock Earnings IA FA Total " = " = 1 Issued $40,000 of common stock for cash. 2 Borrowed $30,000 form East Bridgewater Savings Bank. 3 Troy Co. Earned $65,000 in revenue. All customers paid in cash. 4 Paid wages expenses $22,000 in cash. 5 Paid a $2,000 cash dividend. 6 Bought back $2,000 of common stock for cash. 7 Paid off $6,000 of the Note payable to the bank. Cash 8 CO 9 Paid $13,000 for a lot of land. Land increased in market value to $17,000 in the last few weeks.