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During 2021, Burke Company earned revenues of $146 million. (Click the icon to view additional information.) Read the requirements Requirement 1. Prepare the income
During 2021, Burke Company earned revenues of $146 million. (Click the icon to view additional information.) Read the requirements Requirement 1. Prepare the income statement (with a proper heading) for 2021. (Enter all amounts in millions. If an input field is not used in the income statement, leave the field empty; do not select a label or enter a zero.) (millions) This allestion: 3000 More info Burke incurred, during that same year, salary expense of $32 million, rent expense of $25 million, and utilities expense of $24 million. Burke declared and paid dividends of $13 million during the year. At December 31, 2021, Burke had cash of $145 million, accounts receivable of $55 million, property and equipment of $34 million, and other long-term assets of $18 million. At December 31, 2021, the company owed accounts payable of $59 million and had a long-term note payable of $27 million. Burke began 2021 with a balance in retained earnings of $71 million. At December 31, 2021, Burke had total stockholders' equity of $166 million, which consisted of common stock and retained earnings. Burke has a year-end of December 31. Print Done Requirements Prepare the following financial statements (with proper headings) for 2021: 1. Income statement, 2. Statement of retained earnings, 3. Balance sheet. Print Done -
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