Current Attempt in Progress The comparative balance sheets for Kingbird Corporation appear below: Additional information: 1. Net loss for 2022 is $12,000. Net sales for 2022 are $240,000. 2. Cash dividends of $24,100 were declared and paid in 2022 . 3. Land was sold for cash at a loss of $3,200. This was the only land transaction during the year. 4. Equipment with a cost of $15,400 and accumulated depreciation of $10,000 was sold for $5,300 cash. 5. $12,900 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair value of the stock at the time of the exchange was $34,000. Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net income / (Loss) Adjustments to reconcile net income to Noncash Investing and Financing Activities Depreciation Expense 5 Proceeds from the Sale of Land Increase in Accounts Receivable Decrease in Prepaid Insurance Increase in Prepaid Insurance