Question

Simplex Corporation provides the following information at the end of 2015.
Salaries payable to workers at the end of the year ................ $ 3,500
Advertising expense for the year ........................ 8,700
Building that has been purchased .......................... 70,000
Supplies at the end of the year .............................. 7,500
Retained earnings ................................................. 38,000
Utilities expense for the year .............................. 4,200
Note payable to the bank ..................................... 21,500
Service revenue earned during the year ................................ 67,800
Salary expense for the year ................................................... 24,200
Accounts payable to suppliers .................................................. 6,700
Dividends paid to shareholder during the year ...................... ?
Common stock that has been issued, including $8,000 that was issued this year ..... 30,000
Cash remaining ....................................................................... 5,500
Interest expense for the year .................................................. 1,800
Accounts receivable from customers .............................................. 16,700

Required:
Prepare the income statement, statement of stockholders’ equity, and balance sheet for Simplex Corporation on December 31, 2015. The balance of retained earnings at the beginning of the year equals $24,500.



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  • CreatedJuly 15, 2014
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