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: $ 26,900 11.900 91,900 50,690 Cash Accounts Receivable Inventory Equipment Accounts Payables 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 Total Expenses(excluding income taxes) Income taxes expense (at 30% of pretax earnings); all paid during 2020 Common shares, 8, 900 shares outstanding 2,050 159.000 106, 200 39,000 No dividends were declared or paid during 2020. Required: 1. Prepare an income statement for the year ended December 31, 2020 NUCLEAR COMPANY Income Statement For the Year Ended December 31, 2020 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 Common Shares Retained earnings Pronare a ctatement of financial rncitinn at December 21 2020 1 3. Prepare a statement of financial position at December 31, 2020. NUCLEAR COMPANY Statement of Financial Position As at December 31, 2020 Assets 26:01 Total assets Liabilities and Shareholders' Equity Liabilities Total liabilities Shareholders' equity Total shareholders' equity Total liabilities and shareholders' equity 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: $ 26,900 11.900 91,900 50,690 Cash Accounts Receivable Inventory Equipment Accounts Payables 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 Total Expenses(excluding income taxes) Income taxes expense (at 30% of pretax earnings); all paid during 2020 Common shares, 8, 900 shares outstanding 2,050 159.000 106, 200 39,000 No dividends were declared or paid during 2020. Required: 1. Prepare an income statement for the year ended December 31, 2020 NUCLEAR COMPANY Income Statement For the Year Ended December 31, 2020 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 Common Shares Retained earnings Pronare a ctatement of financial rncitinn at December 21 2020 1 3. Prepare a statement of financial position at December 31, 2020. NUCLEAR COMPANY Statement of Financial Position As at December 31, 2020 Assets 26:01 Total assets Liabilities and Shareholders' Equity Liabilities Total liabilities Shareholders' equity Total shareholders' equity Total liabilities and shareholders' equity
