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Wildhorse Inc. is a private company reporting under ASPE. The following selected account balances were reported in Wildhorse Inc.s financial statements at year end: 2021

Wildhorse Inc. is a private company reporting under ASPE. The following selected account balances were reported in Wildhorse Inc.s financial statements at year end:

2021 2020
Cash $ 19,575 $ 9,050
Buildings 856,500 746,000
Equipment 408,000 353,800
Land 106,000 60,750
Accumulated depreciationbuildings 310,500 298,250
Accumulated depreciationequipment 136,000 101,750
Dividends payable 6,800 3,250
Mortgage payable 549,400 589,400
Notes payable 345,500 314,500
Common shares: 5,510 shares in 2021; 4,110 in 2020 544,500 415,500
Retained earnings 212,000 113,000
Cash dividends declared 30,500 14,400
Depreciation expensebuildings 27,250 40,550
Depreciation expenseequipment 48,055 26,200
Gain on sale of equipment 1,010 0
Loss on sale of building 11,700 0
Interest expense 49,350 45,250

Additional information:
1. Purchased $80,500 of equipment for $12,200 cash and a note payable for the remainder.
2. Equipment was also sold during the year.
3. Sold a building that originally cost $55,500.
4. Used cash to purchase land and a building.
5. Mortgage payments and notes payable payments included interest and principal amounts.
6. Common shares were issued for cash.

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