$3$

Problem $1-5$B $($Algo$)$ Prepare financial statements $($LO$1-3)$

Guwara Corporation provides the following information at the end of $2024.$

Salaries payable to workers at the end of the year

Advertising expense for the year

Building that has been purchased

Supplies at the end of the year

Retained earnings

Utilities expense for the year

Note payable to the bank

Service revenue performed during the year

Salary expense for the year

Accounts payable to suppliers

Dividends paid to shareholders during the year

Common stock that has been issued, including $$4,000$ that was issued this year

Cash remaining

Interest expense for the year

Accounts receivable from customers

Retained earnings at the beginning of the year

$$1,900$

$9,000$

$66,000$

$3,200$

$35,600$

$4,600$

$18,000$

$62,400$

$25,300$

$6,300$

$(?)$

$23,000$

$3,800$

$1,400$

$11,800$

$23,100$

Required:

Prepare the income statement for the year ended December $31,2024.$

Prepare the statement of stockholders' equity for the year ended December $31,2024.$

Prepare the balance sheet for the year ended December $31,2024.$

Complete this question by entering your answers in the tabs below.

Required $1$

Required $3$

Prepare the income statement for the year ended December $31,2024.$

GUWARA CORPORATION

$Mc$

Graw

Required:

Prepare the income statement for the year ended December $31,2024.$

Prepare the statement of stockholders' equity for the year ended December $31,2024.$

$6$

Prepare the balance sheet for the year ended December $31,2024.$

points

Complete this question by entering your answers in the tabs below.

eBook

$?$

Required $1$

Required $2$

Required $3$

Print

Prepare the income statement for the year ended December $31,2024.$

References