Question
Wildhorse Co.'s comparative balance sheets are presented below. Wildhorse Co. Comparative Balance Sheets December 31 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable
Wildhorse Co.'s comparative balance sheets are presented below. Wildhorse Co. Comparative Balance Sheets December 31 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings Total Accounts payable Common stock Retained earnings Total 2022 2021 $14,600 $ 10,300 21,600 23,900 20,500 25,900 70,200 70,200 (14,500) (10,800) $112,400 $119.500 $ 12,000 $31,200 74.000 70.300 26,400 $112,400 18,000 $119,500 Additional information: 1. Net income was $22,900. Dividends declared and paid were $14,500. 2. No noncash investing and financing activities occurred during 2022. 3. The land was sold for cash of $4,700. Wildhorse Co. Statement of Cash Flows For the Year Ended December 31, 2022 Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Decrease in Accounts Payable OP Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Land 22900 Wildhorse Co. Statement of Cash Flows For the Year Ended December 31, 2022 Adjustments to reconcile net income to th Sale of Land Depreciation Expense Decrease in Accounts Receivable + Decrease in Accounts Payable +A Net Cash Provided by Operating Activities + Cash Flows from Investing Activities Sale of Land 22900 Net Cash Provided by Operating-Activities + Sale of Land Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period: Net Cash Provided by Operating Activities Sale of Land Payment of Dividends Sale of Land es Increase in Accounts Receivable Decrease in Accounts Receivable Issuance of Common Stock Depreciation Expense Decrease in Accounts Payable Loss on Disposal of Plant Assets Gain on Disposal of Land Increase in Accounts Payable Net Income
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