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(This is one whole question) The following are the financial statements of Sunland Company. The following are the financial statements of Sunland Company. begin{tabular}{|c|c|c|} hline
(This is one whole question) The following are the financial statements of Sunland Company. The following are the financial statements of Sunland Company. \begin{tabular}{|c|c|c|} \hline \multicolumn{2}{|l|}{ Bonds payable } & 33,300 \\ \hline \multicolumn{2}{|l|}{ Common stock } & 14,400 \\ \hline \multicolumn{2}{|l|}{ Retained earnings } & 41,700 \\ \hline \multicolumn{2}{|l|}{ Total } & $114,600 \\ \hline \multicolumn{3}{|c|}{\begin{tabular}{c} Sunland Company \\ Income Statement \\ For the Year Ended December 31, 2020 \end{tabular}} \\ \hline Sales revenue & \multicolumn{2}{|l|}{$242,500} \\ \hline Cost of goods sold & \multicolumn{2}{|l|}{176,900} \\ \hline Gross profit & \multicolumn{2}{|l|}{65,600} \\ \hline Operating expenses & \multicolumn{2}{|l|}{24,000} \\ \hline Income from operations & \multicolumn{2}{|l|}{41,600} \\ \hline Interest expense & \multicolumn{2}{|l|}{3,100} \\ \hline Income before income taxes & \multicolumn{2}{|l|}{38,500} \\ \hline \end{tabular} Additional data: 1. Dividends declared and paid were $24,000. 2. During the year, equipment was sold for $9,800 cash. This equipment cost $18,200 originally and had a book value of $9,800 at the time of sale. 3. All depreciation expense, $14,700, is in the operating expenses. 4. All sales and purchases are on account. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).)
(This is one whole question)
The following are the financial statements of Sunland Company.
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