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AutoSave Unit 9 Accounting II O Search (Alt+Q) Abygail Hicks AH ff File Home Design Layout References Mailings Review View Help P Comments 8 Sha Insert Draw EAlign tai Group 몸 Breaks. Spacing Indent : Line Numbers E Left: o *E Before: O pt Margins Orientation Size Columns Position Wrap Selection Bring Text Forward Backward Send bề Hyphenation EC Right: 0" *:E After: 8 pt Pane A Rotate Page Setup Рaragraph Arrange . 1.. 2 3. 4. 5 I.6. 7. 8. A 9. Present here are the financial statements of Sunland Company. SUNLAND COMPANY SUNLAND COMPANY Comparative Balance Sheets December 31 Income Statement For the Year Ended December 31, 2022 Assets 2022 2021

AutoSave Unit 9 Accounting II O Search (Alt+Q) Abygail Hicks AH ff File Home Design Layout References Mailings Review View Help P Comments 8 Sha Insert Draw EAlign tai Group 몸 Breaks. Spacing Indent : Line Numbers E Left: o *E Before: O pt Margins Orientation Size Columns Position Wrap Selection Bring Text Forward Backward Send bề Hyphenation EC Right: 0" *:E After: 8 pt Pane A Rotate Page Setup Рaragraph Arrange . 1.. 2 3. 4. 5 I.6. 7. 8. A 9. Present here are the financial statements of Sunland Company. SUNLAND COMPANY SUNLAND COMPANY Comparative Balance Sheets December 31 Income Statement For the Year Ended December 31, 2022 Assets 2022 2021

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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  • Prepare a statement of cash flows using the indirect method.
  • Compute free cash flow.
W Unit 9 Accounting II - O Search (Alt+Q) AutoSave Off Abygail Hicks АН File Home Insert Draw Design Layout References Mailings Review View Help P Comments A Share 뮴 Breaks ▼ Indent Spacing E Align : Line Numbers v E Left: 0" C IE Before: 0 pt i Group v Margins Orientation Size Columns Position Wrap Selection Bring Text v Forward v Backward Send be Hyphenation v E* Right: 0" *E After: 8 pt Pane A Rotate v Page Setup Paragraph Arrange L. .. | . . .X 3 . I · 4.. . 5. . 6... . 7. L.8. . . L: . A L... 9. Present here are the financial statements of Sunland Company. SUNLAND COMPANY SUNLAND COMPANY Comparative Balance Sheets Income Statement December 31 For the Year Ended December 31, 2022 Assets 2022 2021 $20,500 Sales revenue $241,800 Cash $37,400 Accounts receivable 32,900 18,100 Cost of goods sold 175,200 Inventory 30,600 20,000 2. Gross profit 66,600 Property, plant, and equipment 59,700 77,900 Accumulated depreciation (29,100) (23,500) Selling expenses $18,450 Total $131.500 $113,000 Administrative expenses 6,150 24,600 Liabilities and Stockholders' Equity Income from operations 42,000 Accounts payable $28,300 $ 16,500 Interest expense 3,900 Income taxes payable 7,500 8,200 Bonds payable 27,900 32,800 Income before income taxes 38,100 Common stock 18,600 14,200 Income tax expense 7,620 Retained earnings 49,200 41.300 Total $131,500 $113,000 Net income $30,480 Additional data: 1. Depreciation expense was $17,100 2. Dividends declared and paid were $22,580. 3. During the year, equipment was sold for $6,700 cash. The equi pment originally cost $18,200 and had accumulated depreciation of $11,500 at the time of sale. Text Predictions: On D Focus Page 8 of 9 1168 words 80% 9:23 PM 3/4/2022
Transcribed Image Text:W Unit 9 Accounting II - O Search (Alt+Q) AutoSave Off Abygail Hicks АН File Home Insert Draw Design Layout References Mailings Review View Help P Comments A Share 뮴 Breaks ▼ Indent Spacing E Align : Line Numbers v E Left: 0" C IE Before: 0 pt i Group v Margins Orientation Size Columns Position Wrap Selection Bring Text v Forward v Backward Send be Hyphenation v E* Right: 0" *E After: 8 pt Pane A Rotate v Page Setup Paragraph Arrange L. .. | . . .X 3 . I · 4.. . 5. . 6... . 7. L.8. . . L: . A L... 9. Present here are the financial statements of Sunland Company. SUNLAND COMPANY SUNLAND COMPANY Comparative Balance Sheets Income Statement December 31 For the Year Ended December 31, 2022 Assets 2022 2021 $20,500 Sales revenue $241,800 Cash $37,400 Accounts receivable 32,900 18,100 Cost of goods sold 175,200 Inventory 30,600 20,000 2. Gross profit 66,600 Property, plant, and equipment 59,700 77,900 Accumulated depreciation (29,100) (23,500) Selling expenses $18,450 Total $131.500 $113,000 Administrative expenses 6,150 24,600 Liabilities and Stockholders' Equity Income from operations 42,000 Accounts payable $28,300 $ 16,500 Interest expense 3,900 Income taxes payable 7,500 8,200 Bonds payable 27,900 32,800 Income before income taxes 38,100 Common stock 18,600 14,200 Income tax expense 7,620 Retained earnings 49,200 41.300 Total $131,500 $113,000 Net income $30,480 Additional data: 1. Depreciation expense was $17,100 2. Dividends declared and paid were $22,580. 3. During the year, equipment was sold for $6,700 cash. The equi pment originally cost $18,200 and had accumulated depreciation of $11,500 at the time of sale. Text Predictions: On D Focus Page 8 of 9 1168 words 80% 9:23 PM 3/4/2022
SUNLAND COMPANY Statement of Cash Flows Adjustments to reconcile net income to > > >
Transcribed Image Text:SUNLAND COMPANY Statement of Cash Flows Adjustments to reconcile net income to > > >
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