The following accounting events apply to Waddell Company's Year 2 fiscal year: Jan. 1 Acquired $52,000 cash from the issue of common stock. Feb. 1 Paid $5,400 cash in advance for a one-year lease for office space. Mar. 1 Paid a $1,800 cash dividend to the stockholders. Apr. 1 Purchased additional land that cost $31,000 cash. May 1 Made a cash payment on accounts payable of $21,000. July 1 Received $8,800 cash in advance as a retainer for services to be performed monthly over the coming year. Sept. 1 Sold land for $22,000 cash that had originally cost $22,000. Oct. 1 Purchased $1,010 of supplies on account. Dec. 31 Earned $61,000 of service revenue on account during the year. 31 Received cash collections from accounts receivable amounting to $59,000. 31 Incurred other operating expenses on account during the year that amounted to $11,000. 31 Recognized accrued salaries expense of $4,500. 31 Had $130 of supplies on hand at the end of the period. 31 The land purchased on April 1 had a market value of $40,000. Required Based on the preceding information, answer the following questions for Waddell Company. All questions pertain to the Year 2 financial statements. (Hint Enter items in general ledger accounts under the accounting equation before answering the questions.) a. What amount would Waddell report for land on the balance sheet? b. What amount of net cash flow from operating activities would be reported on the statement of cash flows? c. What amount of rent expense would be reported on the income statement? d. What amount of total liabilities would be reported on the balance sheet? e. What amount of supplies expense would be reported on the income statement? f. What amount of unearned revenue would be reported on the balance sheet? g. What amount of net cash flow from investing activities would be reported on the statement of cash flows? h. What amount of total expenses would be reported on the income statement? i. What amount of service revenue would be reported on the income statement? j. What amount of cash flows from financing activities would be reported on the statement of cash flows? k. What amount of net income would be reported on the income statement? 1. What amount of retained earnings would be reported on the balance sheet? Complete this question by entering your answers in the tabs below. Accounting Equation Req A to L Based on the preceding information, answer the following questions for Waddell Company. All questions pertain to the Year 2 financial statements. (Hint: Enter items i accounts under the accounting equation before answering the questions.) (Do not round intermediate calculations. Enter any decreases to account balances with a mi Accounting Equation Date Liabilities Salaries Payable Cash Land Bal. 0 31,000 01 = Jan. 1 0 Supplies 0 0 01 0 0 0 01 = 01 = 0 (1,800) 50,000 52,000 (5,400) (1.800) (31,000) (21,000) 8,800 22.000 0 0 Assets Accounts Receivable Prepaid Rent 47,000 0 0 0 0 5,400 0 0 0 0 0 0 0 0 01 0 0 0 61,000 0 (59,000) 0 0 0 0 0 0 0 0 Feb. 1 Mar. 1 April 1 May 1 July 1 Sept. 1 Oct. 1 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Accounts Payable 28,000 or 0 01 0 (21,000) 0 0 1,010 0 0 11,000 0 31,000 0] = 01 = (22,000) 01 = 0 0 0 1,010 0 Stockholders' Equity Unearned Common Retained Revenue Stock Earnings 0 84,000 16,000 0 + 52,000+ 0 0 0+ 0 0] +1 0+ 0+ 0+ 0 0 0+1 0 8,800| + 01 + 0 0 + 01 +1 0 01 + 01+1 0 0 01 + 61,000 0 0 + 0 01 + 01 + (11,000) 0 + 0+ (4,500) 0+ 0+ (880) 01 + 0+ (4,950) 0+ 01 + 0 (4,400)| 0+ 4,400 136,000 + 58,270 0 0 0 0 0 01 = 0 59,000 0 01 = 0 0 0 0 01 = 4,500 0 0 0 0 0 0 (4,950 (880) 0 0 01 = 01 = 0] = 0 or 0 0 0 0 Dec. 31 Dec. 31 Dec. 31 Bal. 0 132,600 01 49,000 0 130 01 = 40,000 = 01 19,010 0 0 4,500 450 4,400 + Accounting Equation Req A to L > Complete this question by entering your answers in the tabs below. Accounting Equation Reg A to L What amount would Waddell report for land on the balance sheet? What amount of net cash flow from operating activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) What amount of rent expense would be reported on the income statement? (Do not round intermediate calculations.) What amount of total liabilities would be reported on the balance sheet? What amount of supplies expense would be reported on the income statement? What amount of unearned revenue would be reported on the balance sheet? (Do not round intermediate calculations.) What amount of net cash flow from investing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) What amount of total expenses would be reported on the income statement? (Do not round intermediate calculations.) What amount of service revenue would be reported on the income statement? (Do not round intermediate calculations.) What amount of cash flows from financing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) What amount of net income would be reported on the income statement? (Do not round intermediate calculations.) What amount of retained earnings would be reported on the balance sheet? (Do not round intermediate calculations.) Show less a. 40,000 $ $ 4,950 27,910 880 4,400 Land b. Net cash flow from operating activities c. Rent expense d. Total liabilities e Supplies expense f. Unearned revenue 9. Net cash flow from investing activities h. Total expenses i. Service rev revenue j cash flows from financing activities k. Net income L. Retained earnings $ 58,270