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Splish Corporations balance sheet at the end of 2024 included the following items. ...

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Accounting

Splish Corporations balance sheet at the end of 2024 included the following items.
Current assets (Cash $82,000)
$236,250
Current liabilities
$151,250
Land
32,200
Bonds payable
101,250
Buildings
121,250
Common stock
182,200
Equipment
92,200
Retained earnings
46,200
Accum. depr.-buildings
(31,250)
Total
$480,900
Accum. depr.-equipment
(11,000)
Patents
41,250
Total
$480,900
The following information is available for 2025.
1. Net income was $50,870.
2. Equipment (cost $21,250 and accumulated depreciation $9,250) was sold for $11,250.
3. Depreciation expense was $5,250 on the building and $10,250 on equipment.
4. Patent amortization was $2,500.
5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,250.
6. An addition to the building was completed at a cost of $28,250.
7. A long-term investment in stock was purchased for $16,000.
8. Bonds payable of $52,200 were issued.
9. Cash dividends of $30,000 were declared and paid.
10. Treasury stock was purchased at a cost of $11,000.
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