Partially Completed Worksheet (Spreadsheet) – The Hanks Company has prepared the following changes in account balances for the worksheet to support its 2007 statement of cash flows:

A

B

C

D

Worksheet Entries

Debit

Credit

Account Title

Increase (Decrease)

Debits

Cash

$830

Noncash Accounts

Accounts receivable

290

Inventory

1,280

Investments

1,550

Land

700

Equipment

2,300

Patents (net)

100

Total

$4,870

Credits Accumulated depreciation

$350

Accounts payable

120

Bonds payable

2,000

Premium on bonds payable

300

Common stock, $2 par

480

Premium on common stock

1,120

Retained earnings

500

Total

$4,870

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 “small” 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).