Question 30 (20 points) The comparative balance sheets for Dingdong Corporation appear below DINGDONG CORPORATION Comparative Balance Sheet Dec 31, 2020 Dec 31 2021 Assets Cash $ 68.200 Accounts receivable, 10.000 Prepaid expenses 9.000 Inventory 32,900 Equipment 30,000 Accumulated depreciation equipment (17000) Total assets $ 133.100 Liabilities and Shareholders. Equity Accounts payable $5,600 Bonds payable 50 000 Common shares 23.000 Retained earnings 54 500 Total liabilities and shareholders' equity S 133 100 $ 20,800 16,300 6,000 30,200 60,000 (19.800) $ 113.500 $ 15,000 40,000 23.000 35,500 $ 113.500 Additional information 1. Profit for the year ending December 31, 2021 was $ 39,000 2 Cash dividends of $ 20,000 were declared and paid during the year 3. Equipment with cost of $ 30.000 and accumulated depreciation of $ 11,500 was sold for proceeds of S 22 000 4 Depreciation of property, plant and equipment for the year was properly recorded at $ 8,700 Question 30 (20 points) The comparative balance sheets for Dingdong Corporation appear below DINGDONG CORPORATION Comparative Balance Sheet Dec 31, 2020 Dec 31 2021 Assets Cash $ 68.200 Accounts receivable, 10.000 Prepaid expenses 9.000 Inventory 32,900 Equipment 30,000 Accumulated depreciation equipment (17000) Total assets $ 133.100 Liabilities and Shareholders. Equity Accounts payable $5,600 Bonds payable 50 000 Common shares 23.000 Retained earnings 54 500 Total liabilities and shareholders' equity S 133 100 $ 20,800 16,300 6,000 30,200 60,000 (19.800) $ 113.500 $ 15,000 40,000 23.000 35,500 $ 113.500 Additional information 1. Profit for the year ending December 31, 2021 was $ 39,000 2 Cash dividends of $ 20,000 were declared and paid during the year 3. Equipment with cost of $ 30.000 and accumulated depreciation of $ 11,500 was sold for proceeds of S 22 000 4 Depreciation of property, plant and equipment for the year was properly recorded at $ 8,700