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Assume the following beginning balance for Rustic Camp Sites as of January 1, 20xx: Cash - $51,000 Land - $500,000 Notes Payable - $400,000 Common

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Assume the following beginning balance for Rustic Camp Sites as of January 1, 20xx: Cash - $51,000 Land - $500,000 Notes Payable - $400,000 Common Stock - $120,000 Retained Earnings - $31,000 Assume the following ending balance as of the end of the year Cash $230,000 Land -$400,000 Notes Payable $400,000 Common Stock - $152,000 Ending Retained Earnings - $78,000 Dividends -$9,000 Revenue - $116,000 Expense $60,000 Construct an income statement, statement of changes in stockholders' equity and balance sheet as of the end of the year 20xx using the following Excel template: Chapter 1 Template G 1 Rustic Camp Sites Rustic Camp Sites 3 Income Statement Balance Sheet For the Year Ended December 31, 20xx December 31, 20x Revenue Cash Expense Land Total Assets Net Income 10 Notes Payable 11 12 Rustic Camp Sites 13 Common Stack Statement af Changes in Stockholders Equity For the Year Ended December 31, 20xx Retained Earnings 14 15 16 Total Liabilities & S. Equity 17 Beginning Comman Stock Additional Common Stock 18 Ending Common Stock Beginning Retained Earnings 22 Net Income Less Dividends 24 Ending Retained Earnings 28 Total Stockhalders Equity

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