Question

Assume that you are the president of Highlight Construction Company. At the end of the first year (December 31, 2014) of operations, the following financial data for the company are available:


Required: Using the financial statement exhibits in the chapter as models and showing computations:
1. Prepare a summarized income statement for the year 2014.
2. Prepare a statement of stockholders’ equity for the year 2014.
3. Prepare a balance sheet al December 31,2014.


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  • CreatedJuly 01, 2014
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