Problem 4-03A a-d

The completed financial statement columns of the worksheet for Sandhill Company are shown as follows:

Sandhill Company

Worksheet

For the Year Ended December 31, 2020

Income Statement

Balance Sheet

Account

No.

Account Titles

Dr.

Cr.

Dr.

Cr.

101

Cash

9,100112

Accounts Receivable

10,700130

Prepaid Insurance

2,600157

Equipment

23,500158

Accumulated DepreciationEquip.

4,700201

Accounts Payable

8,900212

Salaries and Wages Payable

2,300301

Owner's Capital

19,900306

Owner's Drawings

11,800400

Service Revenue

59,600622

Maintenance and Repairs Expense

1,800711

Depreciation Expense

3,200722

Insurance Expense

1,600726

Salaries and Wages Expense

29,800732

Utilities Expense

1,300

Totals

37,70059,60057,70035,800Net Income

21,900

21,900

59,600

59,600

57,700

57,700

(a1)

Prepare an income statement.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

SANDHILL COMPANY

Income Statement

choose the accounting period

December 31, 2020For the Month Ended December 31, 2020For the Year Ended December 31, 2020

select an opening name for section one

DrawingsExpensesInvestmentsNet Income / (Loss)Owner's Capital, January 1Owner's Capital, December 31RevenuesTotal ExpensesTotal Revenues

enter an income statement item

$enter a dollar amount

select an opening name for section two

DrawingsExpensesInvestmentsNet Income / (Loss)Owner's Capital, January 1Owner's Capital, December 31RevenuesTotal ExpensesTotal Revenues

enter an income statement item

$enter a dollar amount

enter an income statement item

enter a dollar amount

enter an income statement item

enter a dollar amount

enter an income statement item

enter a dollar amount

enter an income statement item

enter a dollar amount

select a closing name for section two

DrawingsExpensesInvestmentsNet Income / (Loss)Owner's Capital, January 1Owner's Capital, December 31RevenuesTotal ExpensesTotal Revenues

enter a total amount for section two

select a closing name for this statement

DrawingsExpensesInvestmentsNet Income / (Loss)Owner's Capital, January 1Owner's Capital, December 31RevenuesTotal ExpensesTotal Revenues

$enter a total net income or loss amount