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Let's Review On December 31, Wortham Services reports the following year-end amounts. Assets:Cash $11,000 Revenues: Service $85,000 Accts. rec. Buildings 19,000 32,000 Expenses: Advertising 12,000
Let's Review On December 31, Wortham Services reports the following year-end amounts. Assets:Cash $11,000 Revenues: Service $85,000 Accts. rec. Buildings 19,000 32,000 Expenses: Advertising 12,000 Insurance 18,000 44,000 Liabilities: Salaries payable 5,000 Notes payable 20,000 Salaries Additional information: a. The balance of retained earnings at the beginning of the year is $6,000. b. The company pays dividends of $5,000 on December 31. c. Common stock is $20,000 at the beginning of the year, and $5,000 of additional shares are issued during the year. equired Prepare the (1) income statement, (2) statement of stockholders' equity, and (3) balance sheet
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