Classified balance sheet /takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator=&inprogress=falseAssetsLiabilities and Shareholders' EquityCash$ 1,000 Accounts payable$ 4,000Accounts receivable (net)3,900 Salaries payable1,100Inventory4,700 Total Liabilities$ 5,100Land9,800 Common stock, $10 par13,500Buildings and equipment68,900 Additional paid-in capital11,200Less: Accumulated depreciation(14,100) Retained earnings44,400Total Assets$ 74,200 Total Liabilities and Shareholders' Equity$74,200At the end of 2016, Mills prepared the following statement of cash flows:Statement of Cash FlowsFor Year Ended December 31, 2016Operating Activities:Net income$ 5,400Adjustments for differences between income flowsand cash flows from operating activities:Add: Depreciation expense1,900Decrease in inventory500Increase in salaries payable400Less: Increase in accounts receivable (net)(1,100)Check My Work n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%3falseLess: Increase in accounts receivable (net)(1,100)Decrease in accounts payable(1,000)Net cash provided by operating activities$ 6,100Investing Activities:Payment for purchase of building$(13,900)Receipt from sale of land3,000Net cash used for investing activities(10,900)Financing ActivitiesPayment of dividends$ (3,100)Receipt from issuance of bonds5,700Receipt from issuance of common stock4,500Net cash provided by financing activities7,100Net increase in cash$ 2,300Cash, January 1, 20161,000Cash, December 31, 2016$ 3,300Additional information related to the statement of cash flows:1. The long-term bonds have a face value of $6,000 and were issued on December 31, 2016.2. The building was purchased on December 30, 2016.3. The land was sold at its original cost.4. The common stock which was sold totaled 300 shares and had a par value of $10 per share.Check My Work

ASSET Current Assets: Cash $ 3,300 A/R net $ 5,000 Inventory $ 4,200 Total Current Assets $ 12,500 Property, Plant Equipment: Land $ 6,800 Building & Equipment $ 82,800 Less: Accum Dep $ 16,000 $ 66,800 Total PPE $ 73,600 Total Assets $ 86,100LIABILITIES Current Liabilities: Accounts payable $ 3,000 Salaries payable $ 1,500 Total Current Liabilities $ 4,500 Long Term Liabilities: Bonds Payable [see additional info in question Point 1] $ 6,000 Less: Discount [6000 face value – 5700 cash received in cash flow statement] $ 300 Total Long Term Liabilities $ 5,700 Total Liabilities $ 10,200SHAREHOLDER's EQUITY Contributed Capital: Common Stock $ 10 par $ 16,500 Additional Paid capital $ 12,700 Total cotributed capital $ 29,200 Retained Earnings $ 46,700 Total Shareholder's Equity $ 75,900 Total Liabilities & Equity $ 86,100