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Required: Prepare the income statement, statement of stockholders' equity, and balance s Investments. heet for Gator P1-4B Below are incomplete financial statements for Cyclone, Inc.
Required: Prepare the income statement, statement of stockholders' equity, and balance s Investments. heet for Gator P1-4B Below are incomplete financial statements for Cyclone, Inc. Understand the format of financial statements and the link among them LO1-3) CYCLONE, INC. Income Statement CYCLONE, INC. Statement of Stockholders' Equity Common Retained Total Revenues Stock Earnings S. Equity Expenses: Salaries $13,000 Issuances of stock Rent Advertising 7,000 Add: Net income 5,000 Less: Dividends ncome(b)Ending balance Beginning balance$14,000 $7,000 $21,000 5,000 $17,000 $8,000 $25,000 5,000 CYCLONE, INC. Balance Sheet Liabilities Assets $1,100 Accounts payable $4,000 Cash Supplies Land Building Stockholders' Equity 6,000 16,000 Common stock Retained earnings Total liabilities and stockholders' equity 0 Total assets
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