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Gator Investments provides financial services related to investment selections, retirement planning, and general insurance needs. At the end of the year on December 31, 2021,
Gator Investments provides financial services related to investment selections, retirement planning, and general insurance needs. At the end of the year on December 31, 2021, the company reports the following amounts:
Advertising expense | $ | 31,600 | Service revenue | $ | 118,100 | ||
Buildings | 131,000 | Interest expense | 1,600 | ||||
Salaries expense | 63,200 | Utilities expense | 13,600 | ||||
Accounts payable | 4,500 | Equipment | 17,500 | ||||
Cash | 3,600 | Notes payable | 20,500 | ||||
In addition, the company had common stock of $100,000 at the beginning of the year and issued an additional $10,000 during the year. The company also had retained earnings of $12,300 at the beginning of the year and paid dividends of $3,300.
Required:
- Prepare the income statement for Gator Investments.
- Prepare the statement of stockholders equity for Gator Investments.
- Prepare the balance sheet for Gator Investments.
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