TB Problem 21-167 (Algo) The Murdock Corporation reported the following balance sheet data for 2021 and 2020: Cash Available-for-sale debt securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation Total assets Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity Additional information for 2021: (1) Sold available-for-sale debt securities costing $75,000 for $80,600. (2) Equipment costing $20,000 with a book value of $6,100 was sold for $7,650. (3) Issued 6% bonds payable at face value, $211,000. (4) Purchased new equipment for $156,000 cash. (5) Paid cash dividends of $25,500. (6) Net income was $61,000. 2021 2020 89,585 $ 29,555 21,000 96,000 91,000 78,150 176,000 154,900 2,490 3,100 1,272,000 1,136,000 (621,000) (583,000) $1,031,075 $ 914,705 $ 86,240 $ 159,670 24,400 34,900 211,000 300,000 374,535 $1,031,075 30,000 86,000 0 300,000 339,035 $ 914,705