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A tabular analysis of the transactions made during August 2022 by Wildhorse Co. during its first month of operations is shown below. Each increase and
A tabular analysis of the transactions made during August 2022 by Wildhorse Co. during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets = Liabilities + Stockholders' Equity Cash + A/R + Supp. + Equip. = Accounts Payable + Common Stock + Retained Earnings Revenues - Expenses - Dividends $21,400 $21,400 nisi mi -1,730 $4,980 $3,250 -900 $900 4,900 $5,600 $10,500 Serv. Rev. -1,800 -1,800 -3,000 -$3,000 w osoa -810 -$810 Rent Exp. 360 -360 -2,700 -2,700 Sal. Exp. 360 -360 Util. Exp. Prepare an income statement for August. WILDHORSE CO. Income Statement
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