P2-3 only, please

386/cfi/971/4/4@0.00:0.00 Basic Accounting Systems Cash Basis Chapter 2 P2-3 Financial statements The following amounts were taken from the accounting records of Padget Home Services, Inc., as of December 31, 20Y7. Padget Home Services began its operations on January 1, 20Y7 $ 60,000 75,000 15,000 620,000 4,800 215,000 10,200 80,000 70,000 272,000 Cash Common stock Dividends Fees earned interest expense Land Miscellaneous expense Notes payable Rent expense Salaries expense Taxes expense Utilities expense 43,000 Instructions 1. Prepare an income statement for the year ending December 31, 20Y7. 2. Prepare a tatement of stockholders' equity for the year ending December 31, 20Y7. 3. Prepare a balance sheet as of December 31, 20Y7. 4. Prepare a satement of cash flows for the year ending December 31, 20Y7. P2-4 Financial statements Home Services began its operations on January 1, 20Y7 (see Problem 2-3). After its amounts Padget second year of operations, the following of Padget Home Services, Inc., as of December 31, 20Y8. accounting records were taken from the Cash Common stock Dividends Fees earned Interest expense $110.000 886.000 7.200 340.000 13,800 120,000 100,000 Miscelaneous expense Notes payable Rent expense