Income Statement, Statement of Stockholders Equity, and Balance Sheet

Napolean Corporation started business on January 1. The following information was compiled by Napoleans accountant on December 31:

Sales Revenue	$15,000		Equipment, net	$11,250
Expenses	9,000		Building, net	30,000
Dividends	2,250		Accounts Payable	3,000
Cash	1,125		Notes Payable	24,750
Accounts Receivable	1,875		Common Stock	15,000
Inventory	2,250		Retained Earnings	?

Required

You have been asked to assist the accountant for the Napolean Corporation in preparing year-end financial statements. Use the above information to prepare an income statement, statement of stockholders equity, and a balance sheet as of December 31.

Do not use negative signs with your answers unless otherwise noted.

NAPOLEAN CORPORATION Income Statement For Year Ended December 31
Sales Revenue	Answer
AnswerAccounts PayableAccounts ReceivableBuilding, netCashCommon StockDividendsEquipment, netExpensesInventoryNotes PayableRetained EarningsSales Revenue	Answer
Net income	Answer

NAPOLEAN CORPORATION Statement of Stockholders' Equity For Year Ended December 31
	CommonStock	RetainedEarnings	Total
Balance, January 1	Answer	Answer	Answer
Net Income	Answer	Answer	Answer
Issuance of Common Stock	Answer	Answer	Answer
Dividends paid(use a negative sign with answers)	Answer	Answer	Answer
Balance, December 31	Answer	Answer	Answer

NAPOLEAN CORPORATION Balance Sheet December 31
	ASSETS
	AnswerAccounts PayableAccounts ReceivableBuilding, netCashCommon StockDividendsEquipment, netExpensesInventoryNotes PayableRetained EarningsSales Revenue		Answer
	Accounts Receivable		Answer
	AnswerAccounts PayableAccounts ReceivableBuilding, netCashCommon StockDividendsEquipment, netExpensesInventoryNotes PayableRetained EarningsSales Revenue		Answer
	Building, net		Answer
	Equipment, net		Answer
	Total Assets		Answer
	LIABILITIES AND STOCKHOLDERS' EQUITY
	LIABILITIES
	Accounts Payable	Answer
	AnswerAccounts PayableAccounts ReceivableBuilding, netCashCommon StockDividendsEquipment, netExpensesInventoryNotes PayableRetained EarningsSales Revenue	Answer
	Total Liabilities		Answer
	STOCKHOLDERS' EQUITY
	AnswerAccounts PayableAccounts ReceivableBuilding, netCashCommon StockDividendsEquipment, netExpensesInventoryNotes PayableRetained EarningsSales Revenue	Answer
	AnswerAccounts PayableAccounts ReceivableBuilding, netCashCommon StockDividendsEquipment, netExpensesInventoryNotes PayableRetained EarningsSales Revenue	Answer
	Total Stockholders' Equity		Answer
	Total Liabilities and Stockholders' Equity		Answer