Shown below are comparative balance sheets for Pharoah Company. Additional information: 1. Net income for 2022 was $176,700. 2. Depreciation expense was $64,600. 3. Cash dividends of $74,100 were declared and paid. 4. Bonds payable amounting to $95,000 were redeemed for cash $95,000. 5. Common stock was issued for $79,800 cash. 6. No equipment was sold during 2022 . 7. Land was sold for its book value