ABC, Inc. has the following account balances at December 31, 2004.

During the year 2004, the company issued $6,000 of new common stock.

Required
From this information, prepare
(A) An income statement,
(B) A statement of stockholders' equity, and
(C) A classified balance sheet.
(D) Show how the three financial statements articulate.

Transcribed Image Text:

$17,080 9,400 26,100 60,000 20,880 31,000 15,600 2,200 1,200 Income tax expense Land Notes payable $1,300 50,000 30,000 counts payable Accounts receivable Accumulated depreciation Buildings Cash Contributed capital Cost of goods sold Depreciation expense Dividends paid December 31, 2003 7,000 26,000 7,500 3,000 23,900 Sales revenue Supplies Wages expense Wages payable