Cornhusker Company provides the following information at the end of 2012. Cash remaining..........................................................................$ 3,800 Rent expense for

Question:

Cornhusker Company provides the following information at the end of 2012.

Cash remaining..........................................................................$ 3,800

Rent expense for the year................................................................6,000

Land that has been purchased..........................................................20,000

Retained earnings...............................................................................?

Utility expense for the year................................................................3,900

Accounts receivable from customers.....................................................6,200

Service revenue earned during the year................................................32,000

Salary expense for the year.............................................................12,300

Accounts payable to suppliers............................................................1,700

Dividends paid to shareholders during the year..........................................2,200

Common stock that has been issued prior to 2012..................................15,000

Salaries owed at the end of the year.........................................................1,900

Insurance expense for the year.................................................................2,500

Required:

Prepare the income statement, statement of stockholders' equity, and balance sheet for Cornhusker Company on December 31, 2012. No common stock is issued during 2012, and the balance of retained earnings at the beginning of 2012 equals $6,300?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... 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...