Times New 15 A-A- Wrap 1 Custom 4 Mega S. % 3 Cenda Format Cal Forming Table Style Dalda xfx-06-L6 D G H 1: Fill in the blanks below. Utilize the relationships on the Income Statement and Balance Sheet in determining your answers. Remember to use the power of Excel to calculate your answers. Independent Companies Total Revenues Total Expenses Net Income Stockholder's Total Assets Total Liabilities Equity A $ 4.700,000 $ 350,000 $ 4,350,000 S 325,000 $ 570.000 B $ 490,000 $ 275,000s 750,000 S 295,000 S 860,000 S 300,300 $ 1,600,000 $ 840,000 D s 565,000 S 125,520 S 439,480 $ 640,000 $ 127,000 i Pan Put Part + ox ons Fans Cell Forewiting Table Style Intan . c G H I 1 L Part 2: Helow is a fact scenario. Using the box provided to the right prepare as Income Statement for Bonnie's Catering Service for the year ending December 31, 2020, demonstrating that Bonnie earned Income of 5121,000. Asume the company is not subject to income tax. You are expected to provide at least 5 sparate expense necess During the spring semester of her senior year, Bonnie decided to open a catering business. She created her business in December 2019 by investing $25,000 of her own money and she borrowed $30,000 from the bank by signing a two year note payable promising to pay interest every 12 months with the first interest payment due December 31, 2020. On January 1, 2020 she rented a small kitchen space and purchased a stove, supplies, and food. At the end of 2020 Bonnie had no supplies or food left A review of the checkbook showed the following Bank deposits of collections from customers totaled $140,000 The following checks had been written disposable plates and utensils $7,500, food, 518,000; buying a used stove $12,000, workers' wages, $4,100; interest on the loan, $2,300, cell phone bill $1,900: rent, $5,000 A notebook kept in the kitchen reflected the following Customers still owed her $25.000 for catering services airearly rendered and she owed $3,700 for disposable plates and utensils credit card charges). In addition, Bonnie estimated that she used up one sixth of the stove during 2020. Part 1 Part 2 Part 2 H Income Statement: Balance Sheet: MacBook Air Er Wrap Accounting 1 U Copy B Farma x x $ % ) Conditional Format Call Formatting Table Styles nean Dat M Tucker Ine completed its fourth year of operations ending December 31, 2020. Prepare the () Income Statement for the year ended Deermber 31, 2020 and the (2) Malance Sheets of December 31, 2020 for Tucker Inc. Use the below secount balance to the blank financial statements. Add proper hendings when making these statements. Kach account balance will show up on one of the two statements. Make sure Assets Labte Stockholders' Equity. If you want to check your work, here is a binti Retained Earning af 1/1/2020 was 118,000 und Tucker paid dividends of S100,000 during 2030. Income Statement: Cash Accounts Payable Service Fees Revenue Supplies Expense Insurance Expense Retained Famings, 12/31/2020 Building Rent Expense Salaries Expense Supplies Inventory Contributed Capital Notes Payable Accounts Receivable $ 246,000 s 53,000 $ 302,000 $ 14,000 5 4,000 $ 219,000 $ 120,000 $ 12,000 63,000 $ 28,000 5 98,000 $ 35,000 11,000 Balance Sheet: con Part 1 Part 2 Part 3