Lily Corporation's comparative balance sheets are as follows. LILY CORPORATION Comparative Balance Sheets December 31 2022...

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Lily Corporation's comparative balance sheets are as follows. LILY CORPORATION Comparative Balance Sheets December 31 2022 2021 Cash $16,700 $17,600 Accounts receivable 25,000 22,300 Investments 20,050 15,950 Equipment 59,950 70,050 Accumulated depreciation-equipment (13,850) (10,000) Total $107,850 $115,900 Accounts payable $14,450 $11,150 Bonds payable 10,300 30,200 Common stock 50,500 44,500 Retained earnings 32,600 30,050 Total $107,850 $115,900 Additional information: 1. Net income was $18,350. Dividends declared and paid were $15,800. 2. Equipment which cost $10,100 and had accumulated depreciation of $2,100 was sold for $3,300. 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value. Lily Corporation's comparative balance sheets are as follows. LILY CORPORATION Comparative Balance Sheets December 31 2022 2021 Cash $16,700 $17,600 Accounts receivable 25,000 22,300 Investments 20,050 15,950 Equipment 59,950 70,050 Accumulated depreciation-equipment (13,850) (10,000) Total $107,850 $115,900 Accounts payable $14,450 $11,150 Bonds payable 10,300 30,200 Common stock 50,500 44,500 Retained earnings 32,600 30,050 Total $107,850 $115,900 Additional information: 1. Net income was $18,350. Dividends declared and paid were $15,800. 2. Equipment which cost $10,100 and had accumulated depreciation of $2,100 was sold for $3,300. 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value.