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Cornhusker Company provides the following information at the end of 2015 Cash remaining $ 3,300 Rent expense for the year 5,500 Land that has been
Cornhusker Company provides the following information at the end of 2015
Cash remaining | $ | 3,300 | |
Rent expense for the year | 5,500 | ||
Land that has been purchased | 20,000 | ||
Retained earnings | 10,900 | ||
Utility expense for the year | 3,400 | ||
Accounts receivable from customers | 5,700 | ||
Service revenue earned during the year | 29,500 | ||
Salary expense for the year | 11,800 | ||
Accounts payable to suppliers | 1,450 | ||
Dividends paid to shareholders during the year | 1,700 | ||
Common stock that has been issued prior to 2015 | 15,000 | ||
Salaries owed at the end of the year | 1,650 | ||
Insurance expense for the year | 2,000 | ||
No common stock is issued during 2015, and the balance of retained earnings at the beginning of 2015 equals $5,800. |
Required: | |
1. | Prepare the income statement for Cornhusker Company on December 31, 2015. |
2. | Prepare the statement of stockholders equity for Cornhusker Company on December 31, 2015.
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