Required information The following information applies to the questions displayed below Assume that you are the president of Highlight Construction Company At the end of the first year of operations (December 31, the following financial data for the company are available Cash Heceivable from all are collett 120.00 Inventory of merchandise based on pyll ut and 12. antoned, at cool lessed poti 73.000 Account payable owed to suppliers 43,500 47.0 Salary payable to December this moved toployee vais e pai 10 3.700 311.00 Expenses including the cost of the merchandise oleoding the 300 The tax ax 100 protseduring the year common stock December 31 50.100 Dividende desired and paid during the year (Note: The beginning balances in Common stock and Retained earnings are vero because it is the first year of operations) 2. Prepare a statement of stockholders' equity for the year HIGHLIGHT CONSTRUCTION COMPANY tas Day 1year Banco Decamera. Current year Required information The following information applies to the questions displayed below) Assume that you are the president of Highlight Construction Company. At the end of the first year of operations December 31. the following financial data for the company are available Receivables trout all considered collectie Inventory of merchandise based on seal on priced at Equit, tot lessed portion Rent pond to suppliers Salary python December 31, the vowed to employee bey 1) Total sales revende Experts in the cost of the chandise ootd (L) Thonetan e income all paid during the cent yet Common stock Dec 311 Diversas paid during the NET YEST 26,600 22.100 72.00 0.000 3. To 121.000 35.00 30.10 11.30 Note: The beginning balances in Common stock and Retained eserings ne tere because it is the first year of operations) 2. Prepare a statement of toch olders equity for the year CONSTRUCTION COMPANY Bale Decor Required information [The following information applies to the questions displayed below) Assume that you are the president of Highlight Construction Company. At the end of the first year of operations (December 31. the following financial data for the company are available: 42.600 Cash Receivable from customers all considered collectible) 26,400 12.000 Inventory of merchandise based on physical count and priced cont 73,000 Accounts payabio oved to suppliers 47.940 Salary payable (on Decanters, the vowed to an enployee who will be paid on January 201 3.100 Total sales revenue 121.00 Expenses, including the cost of the merchandise old (excluding income taxe) 16.390 Income tax expense et 301 peetax incon 11 paid during the current year Common atok (Decente) 10.100 Dividenda declared and paid during the current year 11.300 (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations 2. Prepare a statement of stockholders' equity for the year HOHLIGHT CONSTRUCTION COMPANY Statement of stockholders' Equity Common Stock Retained Earnings Balance January 1. Current year Balance December 31, Current year
