During 2012, Young Company had the following transactions:
a. Cash dividends of $10,000 were paid.
b. Equipment was sold for $4,800. It had an original cost of $18,000 and a book value of $9,000. The loss is included in operating expenses.
c. Land with a fair market value of $25,000 was acquired by issuing common stock with a par value of $6,000.
d. One thousand shares of preferred stock (no par) were sold for $7 per share. Young Company provided the following income statement (for 2012) and comparative balance sheets:
Sales.................................... $ 246,000
Less: Cost of goods sold............. (150,000)
Gross margin........................... $ 96,000
Less: Operating expenses............. (66,000)
Net income.............................. $ 30,000

Required:
Prepare a worksheet for Young Company

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Young Company Comparative Balance Sheets At December 31, 2011 and 2012 2011 2012 Assets Cash Accounts receivable 54,000 $111,000 36,800 33,000 60,000 (39,000 (36,000) 40,000 $189,000 $244,800 33,000 48,000 78,000 Accumulated depreciation 15,000 Total assets Liabilities and stockholders' equity counts payablke Wages payable Bonds payable Preferred stock (no par) Common stock $24,000 36,000 1,800 11,000 10,000 36,000 49,000 101,000 3,000 18,000 3,000 30,000 30,000 81,000 $189,000 Paid-in capital in excess of par Retained eamings Total liabilities and stockholders' equity $244,800