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Type or paste question hereondensed financial data of Tamarisk, Inc. follow. Tamarisk, Inc. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $101,200 $48,300 Accounts

Type or paste question hereondensed financial data of Tamarisk, Inc. follow.

Tamarisk, Inc. Comparative Balance Sheets December 31

Assets

2022

2021

Cash

$101,200

$48,300

Accounts receivable

92,700

32,200

Inventory

111,400

102,100

Prepaid expenses

29,600

25,900

Long-term investments

140,800

113,400

Plant assets

274,300

243,000

Accumulated depreciation

(47,200

)

(51,800

)

Total

$702,800

$513,100

Liabilities and Stockholders Equity

Accounts payable

$111,400

$68,000

Accrued expenses payable

16,100

17,400

Bonds payable

110,500

149,400

Common stock

219,400

174,200

Retained earnings

245,400

104,100

Total

$702,800

$513,100

Tamarisk, Inc. Income Statement For the Year Ended December 31, 2022

Sales revenue

$392,600

Less:

Cost of goods sold

$134,500

Operating expenses, excluding depreciation

11,400

Depreciation expense

34,200

Income tax expense

27,700

Interest expense

4,300

Loss on disposal of plant assets

7,500

219,600

Net income

$173,000

Additional information:

1. New plant assets costing $80,500 were purchased for cash during the year.
2. Old plant assets having an original cost of $49,200 and accumulated depreciation of $38,800 were sold for $2,900 cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $31,700 was declared and paid during the year.

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