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Required information (The following information applies to the questions displayed below.) The year-end financial statements of Fighting Illini Financial Services are provided below. $81,200 FIGHTING

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Required information (The following information applies to the questions displayed below.) The year-end financial statements of Fighting Illini Financial Services are provided below. $81,200 FIGHTING ILLINI Income Statement Service revenue Expenses: Salaries $48, 300 Supplies 8, 400 Rent 6,800 Delivery 3,000 Net income 66,500 $14,700 FIGHTING ILLINI Statement of Stockholders Equity Common Retained Stock Earnings Beginning balance, Jan. 1 $53,000 $31,600 Issues stock 11,500 Net income 1700 Dividends (5, 300) CB 600 Total stockholders' Equity 84, 600 11.500 14, 700 (5,300 to 500 DO Next > 23 of 25

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