Use the following information available as of December 31 to prepare an income statement for the...

 
 

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Use the following information available as of December 31 to prepare an income statement for the year and a balance sheet at December 31st for Kamloops Company. Fees received for services performed during the year, $130,000 Accounts payable, $18,100 Accounts receivable, $17,800 Miscellaneous expenses for the year, $9,100 Supplies on hand, $3,500 Notes payable, $26,000 Interest expense on the note for the year, $3,500 Equipment, $87,600 Cash on hand, $11,600 Salaries expense for the year, $71,300 Supplies expense for the year, $8,800 Rent expense for the year, $11,900 Common stock that has been issued, $57,000 Retained earnings at the end of the year, $19,400 a. Prepare an income statement for the year. b. Prepare a balance sheet at December 31st Required A Required B Prepare an income statement for the year. KAMLOOPS COMPANY Income Statement For the year ended December 31 Revenues: Expenses: Total expenses Required A Required B Prepare a balance sheet at December 31st. Assets Total Assets KAMLOOPS COMPANY Balance Sheet December 31 Total Liabilities Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity Use the following information available as of December 31 to prepare an income statement for the year and a balance sheet at December 31st for Kamloops Company. Fees received for services performed during the year, $130,000 Accounts payable, $18,100 Accounts receivable, $17,800 Miscellaneous expenses for the year, $9,100 Supplies on hand, $3,500 Notes payable, $26,000 Interest expense on the note for the year, $3,500 Equipment, $87,600 Cash on hand, $11,600 Salaries expense for the year, $71,300 Supplies expense for the year, $8,800 Rent expense for the year, $11,900 Common stock that has been issued, $57,000 Retained earnings at the end of the year, $19,400 a. Prepare an income statement for the year. b. Prepare a balance sheet at December 31st Required A Required B Prepare an income statement for the year. KAMLOOPS COMPANY Income Statement For the year ended December 31 Revenues: Expenses: Total expenses Required A Required B Prepare a balance sheet at December 31st. Assets Total Assets KAMLOOPS COMPANY Balance Sheet December 31 Total Liabilities Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Equity