MQ4

Saved 4 Assume that you are the controller of Nuclear Company. At December 31, 2020, the end of the first year of operations, the following financial data for the company are available: 22 points Cash Accounts Receivable Inventory Equipment Accounts Payables Salary payable for 2020 (on December 31, 2020, this was owed to an employee, but the amount was not paid until January 10, 2021) Total sales revenue Total Expenses (excluding income taxes) Income taxes expense (at 30% of pretax earnings); all paid during 2020 Common shares, 7, 300 shares outstanding $ 25,300 12,300 90,300 45,300 62,210 8 02:51:03 2,150 143,000 91,800 2 73,000 No dividends were declared or paid during 2020. Required: 1. Prepare an income statement for the year ended December 31, 2020. NUCLEAR COMPANY Income Statement For the Year Ended December 31, 2020 4. 2. Prepare a statement of changes in equity for the year ended December 31, 2020. 02:50:40 NUCLEAR COMPANY Statement of Shareholders' Equity For the Year Ended December 31, 2020 Common Shares Retained earnings 4 3. Prepare a statement of financial position at December 31, 2020. 22 points NUCLEAR COMPANY 8 02:49:57 Statement of Financial Position As at December 31, 2020 Assets Total assets Liabilities and Shareholders' Equity Liabilities: Total liabilities Shareholders equity: Total shareholders equity Total liabilities and shareholders equity Assume that you are the controller of Nuclear Company. At December 31, 2020, the end of the first year of operations, the follow financial data for the company are available: Cash Accounts Receivable Inventory Equipment Accounts Payables Salary payable for 2020 (on December 31, 2020, this was owed to an employee, but the amount was not paid until January 10, 2021) Total sales revenue Total Expenses(excluding income taxes) Income taxes expense (at 30% of pretax earnings); all paid during 2020 Common shares, 7,3ee shares outstanding $ 25, 300 12,300 90, 300 45, 300 62,210 2,150 143,000 91,800 ? 73,000 No dividends were declared or pald during 2020. Required: 1. Prepare an Income statement for the year ended December 31, 2020. NUCLEAR COMPANY Income Statement For the Year Ended December 31, 2020