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Required: 1. Prepare an income statement for the year ended December 31, 2021. 2. Prepare a statement of stockholders' equity for the year ended December
Required: 1. Prepare an income statement for the year ended December 31, 2021. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2021, assuming no common stock was issued during 2021. 3. Prepare a classified balance sheet as of December 31, 2021. ecember 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 12,000 150,000 Accounts Receirable Prepaid Rent 6,000 Supplies 30,000 400,000 $ 135,000 12,000 11,000 5,000 40,000 Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 300,000 60,000 500,000 400,000 20,000 40,000 5,000 Totals $1,063,000 $1,063,000 er 31, 2021, adjust Accounts Debit Credit Cash $ 12,000 Accounts Receiyable 150,000 Prepaid Rent 6,000 Supplies 30,000 Equipment 400,000 Accumulated Depreciation $ 135,000 Accounts Payable 12,000 Salaries Payable 11,000 Interest Payable 5,000 Notes Payable (due in two years) 40,000 Common Stock 300,000 60,000 Retained Earnings Service Revenue 500,000 400,000 Salaries Expense Rent Expense Depreciation Expense 20,000 40,000 Interest Expense 5,000 Totals $1,063,000 $1,063,000
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