Lander Inc. had the following balance sheet at December 31, 2008:
LANDER, INC.
Balance Sheet
December 31, 2008
Cash$45,300Accounts payable$33,800
Accounts receivable$18,900Bonds payable$35,000
Investments$25,000Common stock$190,000
Plant assets (net)$78,000Retained earnings$18,400
Land$110,000
Total Assets$277,200Total Liabilities & Equity$277,200
During 2009 the following occurred.
Lander liquidated its available-for-sale investment portfolio at a loss of $6,500.
A tract of land was purchased for $31,000.
An additional $20,000 in common stock was issued at par.
Dividends totaling $5,000 were declared and paid to stockholders.
Net income for 2009 was $29,000, including $7,000 in depreciation expense.
Land was purchased through the issuance of $25,000 in additional bonds.
At December 31, 009, Cash was $72,650, Accounts Receivable was $35,250, and Accounts Payable was $32,500.
Prepare a statement of cash flows for the year 2009 for Lander.
Prepare the balance sheet as it would appear at December 31, 2009.