The Hanks Company has prepared the following changes in account balances for the worksheet to support its 2007 statement of cash flows:

Additional information: The net income was $1,300. Depreciation expense was $350 and patent amortization expense was $100. At the end of 2007, long-term investments were purchased at a cost of $1,550. Land that cost $700 was sold for $900. On December 31, 2007, bonds payable with a face value of $2,000 were issued for equipment valued at $2,300. Two hundred shares of common stock were issued at $7 per share. Forty shares of common stock were issued as a €œsmall€ stock dividend, the relevant market price being $5 per share. Cash dividends declared and paid totaled $600.
Required
On the basis of the preceding information, complete the worksheet(spreadsheet).

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Worksheet Entries Debit Increase Account Title Credit Debits Cash Noncash Accounts Accounts receivable Invento Investments Land $ 830 290 1,280 1,550 Patents (net) Total 2,300 (100) 4,870 Credits Accumulated depreciation Accounts payable 350 120 2,000 300 Premium on bonds pavable Common stock, $2 par Premium on common stock Retained earnings Total 1,120