The Rainmaker Entertainment Inc. income statement and balance sheet on MyAccountingLab provide details about the company's long-term

Question:

The Rainmaker Entertainment Inc. income statement and on MyAccountingLab provide details about the company's long-term debt and equity. Use the data to answer the following questions:
1. What did Rainmaker have listed as long term debt obligations?
2. List the long-term liability amounts at December 31, 2011 and 2010.
3. What lease payments are due in the year ended December 31, 2012? How much is due in the years beyond 2012?
4. How much interest expense did Rainmaker record on the income statement for 2011 and 2010? How much interest was accrued at December 31, 2010?
5. What types of shares is Rainmaker authorized to issue? Which types of shares were outstanding at December 31, 2011? Were dividends paid during the year ended December 31, 2011? If so, how much were they?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...