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Question 1 Presented below is the comparative balance sheet for Kingbird Company. Kingbird Company Comparative Balance Sheet As of December 31, 2021 and 2020 December

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Question 1 Presented below is the comparative balance sheet for Kingbird Company. Kingbird Company Comparative Balance Sheet As of December 31, 2021 and 2020 December 31 2021 2022 Assets Cash Accounts receivable (net) Short-term investments Inventories Prepaid expenses Plant & equipment Accumulated depreciation $180,400 220,000 267,600 1,051,400 24,900 2,592,300 (1,004,900) $3,331,700 $277,100 156,500 150,500 973,400 24,900 1,931,100 (753,800) $2,759,700 Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $50,400 169,100 453,100 2,079,500 579,600 $3,331,700 $75,700 201,100 189,400 1,761,100 532,400 $2,759,700 Comparative Balance Sheet December 31, 2021 and 2020 December 31 2021 $180,400 5.41 % $277,100 Assets 2020 Cash 10.04 5.67% 8.03 Accounts receivable (net) 220,000 Short-term investments 267,600 Inventories 1,051,400 Prepaid expenses 24,900 Plant and equipment 2,592,300 Accumulated depreciation (1,004,900) Total $3,331,700 6.60 % 156,500 % 150,500 31.56% 973,400 0.75% 24,900 77.81 % 1,931,100 -30.16 % (753,800) 100% $2,759,700 5.45 35.27% 0.90% 69.97 -27.30% 100% 1.51 % $75,700 2.74% 201,100 7.29% Liabilities and Stockholders' Equity Accounts payable $50,400 Accrued expenses 169,100 Bonds payable 453,100 Capital stock 2,079,500 Retained earnings 579,600 5.08 % 13.60% 189,400 6.86% 62.41% 1,761,100 63.81 17.40 % 532,400 19.3 Total $3,331,700 100% $2,759,700 100% Prepare a comparative balance sheet of Kingbird Company showing the dollar change and the percent change for each item. (If there is a decrease from 2020 to 2021, then enter the amounts and percentages with either a negative sign, I.e. -92,000, -25.25 or parenthesis, i.e. (92,000), (25.25).) Assets Cash Accounts receivable (net) Investments KINGBIRD COMPANY Comparative Balance Sheet December 31, 2021 and 2020 December 31 Increase or (Decrease 2021 2020 $ Change % Change $180,400 $277,100 $ 220,000 156,500 267,600 150,500 1,051,400 973,400 24,900 2,592,300 1,931,100 (1,004,900) (753,800 ) $3,331,700 $2,759,700 Inventories Prepaid expenses 900 24,900 Plant and equipment Accumulated depreciation Total $ Liabilities and Stockholders' Equity Accounts payable $50,400 Accrued expenses 169,100 Bonds payable 453,100 Capital stock 2,079,500 Retained earnings 579,600 Total $3,331,700 $75,700 201,100 189,400 1,761,100 532,400 $2,759,700

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