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Waddell Company had the following balances in its accounting records as of December 31, 2015: Assets Liabilities and Equity Cash $ 55,000 Accounts Payable $

Waddell Company had the following balances in its accounting records as of December 31, 2015:

Assets Liabilities and Equity
Cash $ 55,000 Accounts Payable $ 27,000
Accounts Receivable 53,000 Common Stock 89,000
Land 28,000 Retained Earnings 20,000
Total $ 136,000 Total $ 136,000

The following accounting events apply to Waddell Company's 2016 fiscal year:
Jan. 1 Acquired $56,000 cash from the issue of common stock.
Feb. 1 Paid $5,700 cash in advance for a one-year lease for office space. The rent will be expensed from April 1.
Mar. 1 Paid a $1,700 cash dividend to the stockholders.
April 1 Purchased additional land that cost $28,000 cash.
May 1 Made a cash payment on accounts payable of $22,000.
July 1

Received $7,400 cash in advance as a retainer for services to be performed monthly over the coming year.

Sept. 1 Sold land for $19,000 cash that had originally cost $19,000.
Oct. 1 Purchased $960 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 $64,000.
31 Incurred other operating expenses on account during the year that amounted to $13,000.
31 Recognized accrued salaries expense of $5,300.
31 Had $120 of supplies on hand at the end of the period.
31 The land purchased on April 1 had a market value of $34,000.
31 Recognized $118 of accrued interest revenue.

What amount would Waddell report for land on the balance sheet?

c.

What amount of net cash flow from operating activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.)

d.

What amount of rent expense would be reported on the income statement? (Do not round intermediate calculations.)

e. What amount of total liabilities would be reported on the balance sheet?

f. What amount of supplies expense would be reported on the income statement?

g.

What amount of unearned revenue would be reported on the balance sheet? (Do not round intermediate calculations.)

h.

What amount of net cash flow from investing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.)

i.

What amount of total expenses would be reported on the income statement? (Do not round intermediate calculations.)

j.

What amount of service revenue would be reported on the income statement? (Do not round intermediate calculations.)

k.

What amount of cash flows from financing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.)

l.

What amount of net income would be reported on the income statement? (Do not round intermediate calculations.)

m.

What amount of retained earnings would be reported on the balance sheet? (Do not round intermediate calculations.)

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