Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable Accounts Receivable Cash (balance on September 1, 2020) Cash (balance on August 31, 2021) Common Stock Dividends Equipment Notes Payable Office Expense Prepaid Rent Retained Earnings (beginning) Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Supplies Utilities Expense $160,000 30,000 90,000 102,000 100,000 13,000 770,000 45,000 170,000 73,000 425,000 1,030,000 185,000 1,925,000 47,000 605,000 Other cash flow information: Additional investments by stockholders Cash paid to purchase equipment Cash paid to suppliers and employees Repayments of borrowings Cash received from customers Cash received from borrowings Dividends paid in cash $ 47,000 59,000 1,536,000 170,000 1,736,000 7,000 13,000 3. Prepare a balance sheet for the fiscal year ended August 31, 2021. CHEESE FACTORY INCORPORATED Balance Sheet $ 0 0 0 $ 0

Answer rating: 100% (QA)

The Answer is in the image, click to view ... View the full answer