Assume you are the president of Nuclear Company. At the end of the first year of operations (December 31), the following financial data for the company are available: Accounts Payable Accounts Receivable Cash Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies $ 30,000 59,500 12,000 62,280 200 36,000 1,470 57,200 8,850 88,000 8,000 2. Prepare a statement of retained earnings for the year ended December 31. TIP: Because this is the first year of operations, the beginning balance in Retained Earnings will be zero. NUCLEAR COMPANY Statement of Retained Earnings For the Year Ended December 31 Retained Earnings, January 1 Retained Earnings, December 31 Assume you are the president of Nuclear Company. At the end of the first year of operations (December 31), the following financial data for the company are available: Accounts Payable Accounts Receivable Cash Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies $ 30,000 59,500 12,000 62,280 200 36,000 1,470 57,200 8,850 88,000 8,000 3. Prepare a balance sheet at December 31 TIP: The balance sheet includes the ending balance from the statement of retained earnings, NUCLEAR COMPANY Balance Sheet NUCLEAR COMPANY Balance Sheet $ 0 0 0 $ 0