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Income Statement and Balance Sheet The following information for Rogers Enterprises is available at December 31, 2019, and includes all of Rogers' financial statement amounts
Income Statement and Balance Sheet The following information for Rogers Enterprises is available at December 31, 2019, and includes all of Rogers' financial statement amounts except retained earnings: Accounts receivable $72,920 Cash 13,240 Common stock (10,000 shares) 63,600 Income taxes expense 12,500 Income taxes payable 4,150 Interest expense 15,400 Notes payable (due in 10 years) 25,000 Prepaid rent (building) 31,500 Property, plant, and equipment 90,000 Rent expense 135,000 Retained earnings ? Salaries expense 235,200 Salaries payable 15,640 Service revenue 463,000 Supplies 43,300 Supplies expense 33,500 Required: Prepare a single-step income statement for the year ending December 31, 2019, for Rogers. Rogers Enterprises Income Statement For the Year Ended December 31, 2019 Revenues: Expenses: Net income Prepare a classified balance sheet for the year ending December 31, 2019, for Rogers. Rogers Enterprises Balance Sheet December 31, 2019 Assets Current assets: Total current assets Total assets Current liabilities: Liabilities Total current liabilities Long-term liabilities: Total liabilities Stockholders' equity: Stockholders' Equity 10000 Stockholders' Equity Stockholders' equity: Total stockholders' equity Total liabilities and stockholders' equity
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