-/25 Question 2 of 8 View Policies Current Attempt in Progress The comparative balance sheets for Larkspur Corporation appear below. LARKSPUR CORPORATION Comparative Balance Sheet 2022 2021 $54,600 $33.700 Cash Accounts receivable net Prepaid insurance 88.000 64,000 29,200 18.500 Land 16,500 58,000 Equipment 72.500 64.500 (11.100) (19,500 $241,300 $227.000 Accumulated depreciation Total assets Liabilities and Stockholder's Equity Accounts payable 521.000 $8,100 19,700 26,100 144,000 Bonds payable Common stock Retained earnings Total abilities and stockholder's equity 120,000 79,800 50.200 $241.300 $227.600 Additional information: 1 Net loss for 2022 is $14.000. Net sales for 2022 are $310.000 2 Cash dividends of $15.900 were declared and paid in 2022 2 Land was sold for cash at a loss of $2,400. This was the only and transaction during the year, Equipment with a cost of $15.600 and accumulated depreciation of $11.000 was sold for $5,300 cash $14.500 of bonds were retired during the year at carrying book) value. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $28.000 4 5 . and 13 Question 2 o