(Solved): Information for Sunland Company is given below: Sunland Company Balance Sheet December 31, 202 ...

Information for Sunland Company is given below: Sunland Company Balance Sheet December 31, 2021 Assets Equities Cash $$\$314000$$ Accounts payable $$\$626000$$ Accounts receivable $$1951000$$ Income taxes payable 190000 (net) Inventories $$2447000$$ Miscellaneous accrued 226000 payables Plant and equipment, Bonds payable $$(8\%$$, due 1850000 2023) net of depreciation $$1982000$$ Preferred stock ( $$\$100$$ par, $$6\%$$ Patents $$265000$$ cumulative $$759000$$ nonparticipating) Other intangible assets $$75000$$ Common stock (no par, 60,000 Total Assets shares authorized, issued and outstanding) 1122000 Retained earnings 2483000 Treasury stock- 1500 shares of preferred (222000) Additional information: There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January 1, 2021, and there were no changes in the Bonds Payable, Preferred Stock, or Common 5tock accounts during 2021. Assume chat preferred dividends for the current year have not been declared. The number of times interest was earned during 2021 was The number of times interest was earned during 2021 was $$\begin{array}{l}1344÷148\\ 1548÷148\\ 1400÷148\\ 980÷148\end{array}$$