Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with creating the Statement of Stockholders' Equity. I have the necessary information below. Income Statement 31-Mar-22 (In USD 1,000) begin{tabular}{|l|r|r|} hline Revenues

I need help with creating the Statement of Stockholders' Equity.

I have the necessary information below.

image text in transcribed

image text in transcribed

Income Statement 31-Mar-22 (In USD 1,000) \begin{tabular}{|l|r|r|} \hline Revenues & & 496846 \\ \hline & & \\ \hline Cost of Goods Sold & & 301836 \\ \hline Gross Profit & & 195010 \\ \hline Gain on Disposal of Assets & & 2115 \\ \hline Total Income & & 197125 \\ \hline Less: Expenses & & 2115 \\ \hline Operating Expense & 103723 & \\ \hline Interest Expense & 1463 & \\ \hline Depreciation Expense & 6800 & \\ \hline Income Tax Expense & 23839 & \\ \hline Total Expenses & 135825 & \\ \hline & & \\ \hline Net Income/(Loss) & & \\ \hline \end{tabular} Balance Sheet 31-Mar-22 (In USD 1,000) \begin{tabular}{|l|r|r|l|r|} \hline Assets & & & Liabilities & \\ \hline Current Assets: & & & Current Liabilities: & \\ \hline Cash & 274282 & & Accounts Payable & 43900 \\ \hline AccountsReceivable-Net & 66000 & & Income Tax Payable & 72519 \\ \hline MerchandiseInventory & 145000 & & Wages Payable & 6500 \\ \hline Prepayments & 11952 & & Notes Payable & 55000 \\ \hline TotalCurrentAssets & 497234 & & & \\ \hline & & & TotalCurrentLiabilities & \\ \hline LongTermAssets: & & & & 177919 \\ \hline Land & 45790 & & & \\ \hline Buildings & 88125 & & StockholdersEquity: & \\ \hline Equipment & 56650 & & Common Stock & 25500 \\ \hline AccumulatedDepreciation & -28115 & & AdditionalPaid-inCapital & \\ \hline Total Long \\ Term Assets \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting for Governmental and Nonprofit Entities

Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus

16th Edition

78110939, 978-0078110931

More Books

Students also viewed these Accounting questions