Question

Assume that you are the president of Nuclear Company. At the end of the first year of operations (December 31), the following financial data for the company are available:
Accounts Payable……………………… $ 30,000
Accounts Receivable…………………….. 59,500
Cash…………………………………….... 12,000
Common Stock…………………………... 62,280
Dividends…………………………………… 200
Equipment……………………………….. 36,000
Notes Payable…………………………….. 1,470
Operating Expenses……………………... 57,200
Other Expenses…………………………… 8,850
Sales Revenue…………………………… 88,000
Supplies…………………………………… 8,000
Required:
1. Prepare an income statement for the year ended December 31.
2. Prepare a statement of retained earnings for the year ended December 31.
3. Prepare a balance sheet at December 31.


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  • CreatedNovember 02, 2015
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