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Riley, Incorporated reports the following amounts at the end of the year. Cash Buildings Accounts payable Interest expense Advertising expense $51,100 Service revenue 593, 100
Riley, Incorporated reports the following amounts at the end of the year. Cash Buildings Accounts payable Interest expense Advertising expense $51,100 Service revenue 593, 100 58,008 Salaries expense 65,800 9,508 Equipment 63,000 4,000 Supplies 6,400 10,880 Notes payable 55,000 In addition, the company had common stock of $72,000 at the beginning of the year and issued an additional $6.700 during the year. The company also had retained earnings of $24.200 at the beginning of the year and paid dividends of $1,400 during the year Prepare the income statement, statement of stockholders' equity, and balance sheet. a. Income statement RILEY, INCORPORATED Income Statement For the year ended December 31 Revenues Expenses Total expenses b. Statement of stockholders' equity. +RILEY, INCORPORATED Statement of Stockholders' Equity For the year ended December 31 Common Stock Retained Earnings Total Stockholders Equity Balance at beginning of the year Balance at end of the year c. Classified balance sheet. RILEY, INCORPORATED Balance Sheet December 31 Ilahilities Acco
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