Business, 13.11.2019 23:31 natetheman7740

Ivanhoe inc. had the following balance sheet at december 31, 2016.

ivanhoe inc.
balance sheet
december 31,2016
cash $21,840 accounts payable $31,840
accounts recievable 23,040 notes payable (long term) 42,840
investments 33,840 common stock 101,840
plant asset (net) 81,000 retained earnings 25,040
land 41,840 201,560
201,560
during 2017, the following occurred. 1. ivanhoe inc. sold part of its investment portfolio for $15,331. this transaction resulted in a gain of $3,731 for the firm. the company classifies its investments as available-for-sale.

2. a tract of land was purchased for $14,840 cash.

3. long-term notes payable in the amount of $16,331 were retired before maturity by paying $16,331 cash.

4. an additional $20,331 in common stock was issued at par.

5. dividends of $8,531 were declared and paid to stockholders.

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Ivanhoe inc. had the following balance sheet at december 31, 2016.

ivanhoe inc.
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