Assume that you are the controller of Nuclear Company. At December 31, 2020, the end of the first year of operations, the following financial data for the company are available: $ 26,000 13,000 91,000 46,000 57,170 Cash Receivables from customers (all considered collectible) Inventory of merchandise (based on physical count and priced at cost) Equipment owned, at cost less used portion Payables to suppliers of merchandise Salary payable for 2020 (on December 31, 2020, this was owed to an employee, but the amount was not paid until January 10, 2021) Total sales revenue Expenses, including the cost of the merchandise sold (excluding income taxes) Income taxes expense (at 30% of pretax earnings); all paid during 2020 Contributed capital, 8,800 shares outstanding 2,500 150,000 98,100 ? 80,000 No dividends were declared or paid during 2020. Required: 1. Prepare a summarized statement of earnings for the year ended December 31, 2020. NUCLEAR COMPANY Summary Statement of Earnings For the Year Ended December 31, 2020 Total sales revenue Total expenses, excluding income taxes Earnings before income taxes Income tax expense Net earings 0 $ O 2. Prepare a statement of changes in equity for the year ended December 31, 2020. NUCLEAR COMPANY Statement of Shareholders' Equity For the Year Ended December 31, 2020 Contributed capital Balance, January 1, 2020 Dividends Issuance of shares Balance, December 31, 2020 Retained earnings Balance, January 1, 2020 Net earnings Balance, December 31, 2020 3. Prepare a statement of financial position at December 31, 2020. NUCLEAR COMPANY Statement of Financial Position As at December 31, 2020 Assets Cash Accounts receivable Merchandise inventory Equipment, net $ 0 Total assets Liabilities and Shareholders' Equity Liabilities: Accounts payable Salary payable $ $ 0 Total liabilities Shareholders' equity: Retained earnings Contributed capital 0 0 $ Total shareholders' equity Total liabilities and shareholders' equity