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-Assume that you are the president of Brightlight Mobile Games Company. At the end of the first year of operations (December 31), the following financial
-Assume that you are the president of Brightlight Mobile Games Company. At the end of the first year of operations (December 31), the following financial data for the company are available: (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.) Required: 1. Prepare a summarized income statement for the year. 2. Prepare a statement of stockholders' equity for the year. 3. Prepare a balance sheet at December 31. -Assume that you are the president of Brightlight Mobile Games Company. At the end of the first year of operations (December 31), the following financial data for the company are available: (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.) Required: 1. Prepare a summarized income statement for the year. 2. Prepare a statement of stockholders' equity for the year. 3. Prepare a balance sheet at December 31
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