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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 $ 17,000 Accumulated depreciation-Buildings 3,100 Accounts receivable 620 Utilities expense 4,500 Interest payable 1,000 Unearned revenue 22,000 Supplies expense 8,100 Buildings 2,400 Stark, Withdrawals 60,800 Depreciation expense-Buildings 50,000 Supplies $ 21,000 5,200 1,900 340 1,100 320 100,000 6,000 5,000 1,100 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 $60,800 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 Income Statement
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