Windsor, Inc. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $116,300 $48,400 Accounts receivable 92,700 33,400 Inventory 111,200 102,100 Prepaid expenses 29,000 25,500 Long-term investments 140,900 113,300 Plant assets 275,000 241,100 Accumulated depreciation (46.800) (52,000) Total $718,300 $511,800 Liabilities and Stockholders' Equity Accounts payable $111,100 $67.800 Accrued expenses payable 16.500 17,500 Bonds payable 119.300 149.300 Common stock 219.900 174.600 Retained earnings 251,500 102,600 Total $718.300 $511,800 Windsor, Inc. Income Statement For the Year Ended December 31, 2022 Sales revenue $391,300 Less: Cost of goods sold $135,200 Operating expenses, excluding depreciation 11,500 Depreciation expense 31,300 Income tax expense 27,800 Interest expense 4,600 Loss on disposal of plant assets 7,500 217,900 Net income $173,400 Additional information: New plant assets costing $80,800 were purchased for cash during the year. Old plant assets having an original cost of $46,900 and accumulated depreciation of $36,500 were sold for $2,900 cash. 1 2. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $24,500 was declared and paid during the year. slaimer of cash res > < >