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Stark company has the following adjusted accounts and normal balances at its December 31 year-end. Notes payable: Prepaid insurance Interest expense Accounts payable Wages
Stark company has the following adjusted accounts and normal balances at its December 31 year-end. Notes payable: Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Stark, Capital Services revenue $ 16,000 Accumulated depreciation-Buildings 3,000 Accounts receivable 600 Utilities expense 4,000 Interest payable 900 Unearned revenue $ 20,000 5,000 1,800) 300 1,850 300 8,000 Buildings 90,000 2,308 Stark, Withdrawals 5,500 54,800 Depreciation expense-Buildings 4,500 45,000 Supplies 1,050 20,000 Supplies expense Exercise 3-17 (Algo) Preparing Financial Statements LO P5 Use the adjusted accounts for Stark Company to prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31 and (3) balance sheet at December 31. The Stark, Capital account balance was $54,800 on December 31 of the prior year and there were no owner investments in the current year. Complete this question by entering your answers in the tabs below. Income Statement Statement of Owners Equity Balance Sheet Prepare the income statement for the year ended December 31. STARK COMPANY < Prev 7 of 7 Next Check my work
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