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Prepare an income statement for the year ended december

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Reference no: EM13881282

Assume that you are the president of Nuclear Company. At the end of the first year of operations (December 31), the following financial data for the company are available:

Accounts Payable... $ 30,000

Accounts Receivable... 59,500

Cash.... 12,000

Common Stock... 62,280

Dividends... 200

Equipment... 36,000

Notes Payable... 1,470

Operating Expenses... 57,200

Other Expenses... 8,850

Sales Revenue...88,000

Supplies... 8,000

Required:

1. Prepare an income statement for the year ended December 31.

2. Prepare a statement of retained earnings for the year ended December 31.

3. Prepare a balance sheet at December 31.

Reference no: EM13881282

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