View Policies Current Attempt in Progress Sunland Inc. had the following balance sheet at December 31, 2019. Cash Accounts receivable Investments Plant assets net! Land SUNLAND INC BALANCE SHEET DECEMBER 31, 2019 $ 21,940 Accounts payable 22.140 Bonds payable 32.000 Common stock 92.940 Retained earnings 41.940 $201.960 $31.940 42.940 101940 25,140 $201.960 During 2020, the following occurred, 1. 2. 3. Sunland liquidated its available-for-sale debt investment portfolio at a loss of $6.940. Atract of land was purchased for $39,940. An additional $30,000 in common stock was issued at par Dividends totaling $11.940 were declared and paid to stockholders. Net income for 2020 was $36.940, including $13,940 in depreciation expense. Land was purchased through the issuance of $31.940 in additional bonds. At December 31, 2020. Cash was $72,140, Accounts Receivable was S43.940, and Accounts Payable was $41.940. 5. 6. 7. Prepare the unclassified balance sheet as it would appear at December 31, 2020. (List Assets in order of liquidity.) SUNLAND INC. Balance Sheet Assets Cash $ Liabilities and Stockholders' Equity $ $ Accounts Payable Common Stock 1 List of Accounts