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please help with these Saved 1 financial data for the company are available: Cash Receivables from customers (all considered collectible) Inventory of merchandise (based on
please help with these
Saved 1 financial data for the company are available: Cash Receivables from customers (all considered collectible) Inventory of merchandise (based on physical count and priced at cost) Equipment owned, at cost less used portion Payables to suppliers of merchandise 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 Expenses, including the cost of the merchandise sold (excluding income taxes) Income taxes expense (at 30% of pretax earnings); all paid during 2020 Contributed capital, 9,200 shares outstanding $ 27,000 14,000 92,000 47,000 49,970 3,000 160,000 107, 100 ok 90,000 nt No dividends were declared br paid during 2020. Required: 1. Prepare a summarized statement of earnings for the year ended December 31, 2020. nces NUCLEAR COMPANY Summary Statement of Earnings For the Year Ended December 31, 2020 Total sales revenue $ 160,000 107.000 Total expenses, excluding income taxes 53,000 Income tax expense Net earnings $ 53,000 2. Prepare a statement of changes in equity for the yea NUCLEAR COMPANY Statement of Shareholders' Equity For the Year Ended December 31, 2020 Contributed capital Balance, January 1, 2020 + (Issuance of shares Balance, December 31, 2020 Retained earnings Balance, January 1, 2020 Net earnings Balance, December 31, 2020 NUCLEAR COMPANY Statement of Financial Position As at December 31, 2020 Assets Total assets $ 0 + Liabilities and Shareholders' Equity Liabilities: $ 0 Total liabilities Shareholders' equity: Total shareholders' equity Total liabilities and shareholders' equity OO $ Prev 1 of Step by Step Solution
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