BAT4M - Unit 5 Activity 4 Assignment The following information is for the Can You Hear Me Corporation, as of the fiscal year ended December 31, 20--. *Note the information is not in any specific order. Recording Fees Earned Advertising Expense Common Shares (no par value, unlimited number of shares authorized, 150,000 shares issued) Rent Expense Contributed Capital in Excess of Stated Value - Preferred Shares Audio Repair Expense Miscellaneous Expense Preferred Shares ( $6, cumulative, $100 stated value, 100,000 shares Authorized, 4,000 shares issued) Retained Earnings Wages Expense Telephone Expense $800,000 50,000 2,400,000 10,000 300,000 8,500 9,250 400,000 1,276,000 79,500 4,575 Scenario \#1: Create the corporation's Income Statement, Statement of Retained Earnings, and Shareholder's Equity section of the Balance Sheet. Use the assumption that the preferred shareholders were paid their dividend and the common shareholders were paid $50,000 in dividends. Scenario \#2: Create the corporation's Income Statement, Statement of Retained Earnings, and Shareholder's Equity section of the Balance Sheet. Use the assumption that the preferred shareholders were NOT paid their dividend nor were the common shareholders, and the retained earnings were $925,000. BAT4M - Unit 5 Activity 4 Assignment The following information is for the Can You Hear Me Corporation, as of the fiscal year ended December 31, 20--. *Note the information is not in any specific order. Recording Fees Earned Advertising Expense Common Shares (no par value, unlimited number of shares authorized, 150,000 shares issued) Rent Expense Contributed Capital in Excess of Stated Value - Preferred Shares Audio Repair Expense Miscellaneous Expense Preferred Shares ( $6, cumulative, $100 stated value, 100,000 shares Authorized, 4,000 shares issued) Retained Earnings Wages Expense Telephone Expense $800,000 50,000 2,400,000 10,000 300,000 8,500 9,250 400,000 1,276,000 79,500 4,575 Scenario \#1: Create the corporation's Income Statement, Statement of Retained Earnings, and Shareholder's Equity section of the Balance Sheet. Use the assumption that the preferred shareholders were paid their dividend and the common shareholders were paid $50,000 in dividends. Scenario \#2: Create the corporation's Income Statement, Statement of Retained Earnings, and Shareholder's Equity section of the Balance Sheet. Use the assumption that the preferred shareholders were NOT paid their dividend nor were the common shareholders, and the retained earnings were $925,000