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Izzo Company completed its fourth year of operations ended December 31, 2019. Prepare the (1) Income Statement for the year ended December 31, 2019 and
Izzo Company completed its fourth year of operations ended December 31, 2019. Prepare the (1) Income Statement for the year ended December 31, 2019 and the (2) Balance Sheet as of December 31, 2019 for the Izzo Company. Use the below account balances complete the provided blank financial statements. Add proper headings when making these statements. Each account balance will show up on one of the two statements. Make sure Assets=Liabilities plus Stockholders' Equity. If you want to check your work, here is a hint: Retained Earnings as of 1/1/2019 was $200,000 and Izzo paid dividends of $202,000 during 2019. Income Statement: Service fees reveue Cash Accounts Payable Service Fees Revenue Supplies Expense Insurance Expense Retained Earnings, 12/31/2019 Building S 213,000 S 34,000 S 275,000 S 8.000 S 4,000 S 195.000 S 80,000 S 10,000 S 56,000 S 32,000 S 80,000 S 32,000 S 16,000 Rent Expense Salaries Expense Supplies Inventory Contributed Capital Notes Payable Accounts Receivable Balance Sheet
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