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Following is a list of financial statement items and amounts for Vantage Service as of 12/31/Year 1, the end of its first year in
Following is a list of financial statement items and amounts for Vantage Service as of 12/31/Year 1, the end of its first year in operation. Accounts Receivable Accounts Payable Cash Common Stock Notes Payable Equipment Sales Revenue Fuel Expense Rent Expense Advertising Expense Salaries and Wages Expense Retained Earnings Dividends $ 40,500 30,500 10,050 20,500 10,100 50,250 102,500 10,050 10,400 5,050 20,500 ? 16,800 Required: 1. Prepare the income statement for the year ended December 31, Year 1. 2. Prepare the statement of retained earnings for the year ended December 31, Year 1. 3. Prepare the balance sheet for the year ended December 31, Year 1. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the income statement for the year ended December 31, Year 1.
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