Question
Assume hat you are the contolerof Nuclear Company At December 31, 2020, the end of the first year of operations, the following financial data for
Assume hat you are the contolerof Nuclear Company At December 31, 2020, the end of the first year of operations, the following financial data for the company are available: 02510 Cash Receivables fron customers (all considered collectible) Inventory of merchandise (based on ohysical count and priced at cost) Equipment owned, at cost less used sortion Payables to suppliers of merchandise Salary payable for 2828 (on December 31, 2020, this was owed to an esployee, but the Enount has not paid until January 10, 2021) Total sales revenue spenses, including the cost of the merchandise sold (excluding income taxes) Income taxes expense (at 30% of pretax earnings); all paid during 2028 Contributed capital, 7,308 shares outstanding No dividends were declared or paid during 2020. Required: 1 Prepare a summarized statement of eamings for the year ended December 31, 2020 NUCLEAR COMPANY Summary Statement of Earings. Forthe Year Ended December 31, 2020
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