A B C D E F G H J K L M 1 5.6 Financial Statement Preparat Points: 18 items @ 2 points = 36 points 2 3 Directions: Complete the financial statements below based on the information provided below. 4 5 Background Information: 6 a) Donald Duck and Friends started their company when they issued 3,000 shares of $8 par value stock on January 1,2018 7 b) The stock issued at a market price of $13 per share 8 c) During the year, Donald Duck and Friends had revenue of $43,000 9 d) Donald Duck and Friends paid cash for $18,000 in expenses 10 e) Donald Duck and Friends paid a cash Dividend of $25,000 11 12 a) Prepare an income statement for 2018 13 14 Donald Duck and Friends 15 Income Statement 16 For the Year Ended December 31,2018 17 18 Revenue Hint: This is from transaction C 19 Expense Hint: This is from Transaction D 20 Net Income $25,000 21 22