to Think and Communicate 0 Saved Balance Sheets As of December 31 Year 3 Year 2 Assets Cash $ 163,100 $ 123,500 Accounts receivable 106,100 87,600 Inventory 189,100 174,600 Marketable securities (available for sale) 298,500 223,000 Equipment 692,700 493,400 Accumulated depreciation (306,600) (236,900) Land 82,800 117,800 Total assets 1.225.700 983.000 Liabilities and equity Liabilities Accounts payable (inventory) $ 39,200 $ 69,000 Notes payableLongterm 229,600 253,000 Bonds payable 206,400 103,200 Total liabilities 475.200 425.200 Stockholders' equity Common stock, no par 243,100 203,500 Preferred stock, $50 par 113,400 103,400 Paidin capital in excess of parPreferred stock 37.300 31,300 Total paidIn capital 393,800 338,200 Retained earnings 395,300 288,200 Less: Treasury stock (38,600) (68,600) Total stockholders' equity 750,500 557,800 Total liabilities and stockholders' equity $1,225,700 $ 983.000 Income Statement For the Year Ended December 31, Year 3 Sales revenue $1,052,800 Cost of goods sold (769,200) Gross profit 283,600 Operating expenses Supplies expense $23,500 Salaries expense 94,900 Depreciation expense 93,300 Total operating expenses (211,700) Operating income 71,900 DO Income Statement For the Year Ended December 31, Year 3 Sales revenue $1,052,800 Cost of goods sold (769,200) Gross profit 283,600 Operating expenses Supplies expense $23,500 Salaries expense 94,900 Depreciation expense 93,300 Total operating expenses (211,700) Operating income 71,900 Nonoperating items Interest expense (14,100) Gain from the sale of marketable securities 35,600 Gain from the sale of land and equipment 22,100 Net income $ 115,500 Additional Information Sold land that cost $35,000 for $39,000. Sold equipment that cost $26,900 and had accumulated depreciation of $23,600 for $21,400. Purchased new equipment for $226,200. Sold marketable securities that were classified as available-for-sale and that cost $47,100 for $82,700. Purchased new marketable securities, classied as available-for-sale, for $122,600. Paid $23,400 on the principal of the long-term note. Paid offa $103,200 bond issue and issued new bonds for $206,400. Sold 200 shares of treasury stock at its cost. Issued some new common stock. Issued some new $50 par preferred stock. Paid dividends. (Note: The only transactions to affect retained earnings were net income and dividends.) FPPPHP'WPP'NH apare the statement of cash flows for Blythe Industries using direct method. (Amounts to be deducted and cash outflows should indicated by a minus sign.) CO Check my work 1. Sold land that cost $35,000 for $39,000. 2. Sold equipment that cost $26,900 and had accumulated depreciation of $23,600 for $21,400. 3. Purchased new equipment for $226,200, 4. Sold marketable securities that were classified as available-for-sale and that cost $47,100 for $82,700. 5. Purchased new marketable securities, classied as availablefor-sale, for $122,600. 6. Paid $23,400 on the principal of the long-term note. 7. Paid off a $103,200 bond issue and issued new bonds for $206,400. 8. Sold 200 shares of treasury stock at its cost. 9. Issued some new common stock. 10. Issued some new $50 par preferred stock. 11. Paid dividends. (Note: The only transactions to affect retained earnings were net income and dividends.) 3. Prepare the statement of cash ows for Blythe Industries using direct method. (Amounts to be deducted and cash outflows should be Indicated by a minus sign.) Cash flows from operating activities: Cash Receipts from: alyze Think and Communicate i Saved Help Save & Exit Submit Check my work ! Required information vasil payments IVI. Total cash outflows 0 0 Cash flows from investing activities: Cash flows from financing activities: 0 0