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
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 9Q: When preparing the operating section of the statement of cash flows, using the indirect method, how...
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free cash flow .
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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.
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Transcribed Image Text:W
Unit 9 Accounting II -
O Search (Alt+Q)
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Insert
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E Align
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E Left: 0"
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*E After: 8 pt
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3
. I · 4.. . 5. . 6... . 7. L.8. . . L: .
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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
>
>
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Transcribed Image Text:SUNLAND COMPANY
Statement of Cash Flows
Adjustments to reconcile net income to
>
>
>
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