Year 2 YA 1 Assets Canh Accounts receivable Inventory Equipment Accumulated depreciation-equipront Land Total asseta Liabilities and equity Accounts payable inventory) Long-term debt Connon stock Metained earning Total liabilities and equity $23,610 1,532 6.435 10,772 (6.446) 19,781 362,684 # 2,785 919 6,033 42,592 (15,740) 11.161 #47,742 92,512 2,998 23,300 33,674 $ 62,684 # 4,058 6,853 11,500 25,231 $ 47,742 Income Statement Tor the Year Ended December 31, Year 2 Sales revenue $ 33,590 Coat of goods sold 13,314) Gross margin 20,276 Depreciation expense (3.659) Operating Income 16,617 Cain on sale of equipment 550 Lors on disposal of land (20) Set income $ 17,087 Additional Data 1. During Year 2. the company sold equipment for $18,089; It had originally cost $30,500. Accumulated depreciation on this equipment was $12,961 at the time of the sale. Also, the company purchased equipment for $6,680 cash. 2. The company sold tand that had cost $4,180. This land was sold for $4100, resulting in the recognition of a $80 loss. Also, common stock was issued in exchange for title to lend that was valued at $11,800 at the time of exchange. 3. Paid dividends of $8,544 Cash flows from operating activities: Less: Increase/Decrease in current assets and current liabilities: Plus: Noncash charges Cash flows from investing activities: Cash flows from financing activities: Ending cash balance Schedule of noncash investing and financing activities