Question: Assume that you are the president of Nuclear Company At

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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