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Pfizer Inc. issues common stock worth $55,000,000. Pfizer Inc. purchases raw materials on credit for $6,800,000. Pfizer Inc. sells pharmaceuticals for $28,000,000 in cash. Pfizer

  1. Pfizer Inc. issues common stock worth $55,000,000.
  2. Pfizer Inc. purchases raw materials on credit for $6,800,000.
  3. Pfizer Inc. sells pharmaceuticals for $28,000,000 in cash.
  4. Pfizer Inc. pays $4,500,000 for research and development.
  5. Pfizer Inc. pays $3,200,000 in wages.
  6. Pfizer Inc. receives $1,800,000 in cash for services rendered.
  7. Pfizer Inc. buys laboratory equipment for $4,800,000 cash.
  8. Pfizer Inc. incurs $1,200,000 in marketing expenses.
  9. Pfizer Inc. declares and pays dividends of $2,800,000.
  10. Pfizer Inc. records $1,100,000 in depreciation expense.


  11. Record those transactions in a journal.
  12. Prepare a trial balance.
  13. Prepare an income statement for the year ended.
  14. Prepare a balance sheet for the year ended.

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