newurl . i ucation.com O eccat 25 Recuired information P1 1 Propering An Income Stat... Checa.com + Required information Part 3 of 3 {The following information applies to the questions displayed below.) 16.7 points Assume that you are the president of Highlight Construction Company. At the end of the first year of operations (December 31), the following financial data for the company are available: eBook Cash Receivables from customere (all considered collectible) Inventory of merchandise (based on physical count and priced at coat) Equipment owned, at cost less used portion Accounts payable owed to suppliers Salary payable (on December 31, this was owed to an employee who will be paid on January 10) Total sales revenue Expenses, including the cost of the merchandise sold (excluding income taxes) Income tax expense at 30% * pretax income; all paid during the current year Common stock (December 31) Dividende declared and paid during the current year $ 26,200 11.500 80,000 41,000 46,940 1.900 119,000 89,200 Print 10D, 100 11,100 References (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.) 3. Prepare a balance sheet at December 31. HIGHLIGHT CONSTRUCTION COMPANY Balance Sheet At December 31, Current Year Assets Cash Receivables from customers Inventory of merchandise Equipment New McLucho.CONTI o eccat 25 Recuired information P11 Preparing An Income Stat... Chess.com + Part 3 of 3 3. Prepare a balance sheet at December 31. 16.7 HIGHLIGHT CONSTRUCTION COMPANY points Balance Sheet At December 31, Current Year Assets Cash eBook Receivables from customers Inventory of merchandise Equipment Print Investments References $