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The Computer Shop repairs laptops, desktops, and mainframe computers. On December 31, 2021, the company reports the following year-end amounts: Assets: Cash Supplies Equipment,
The Computer Shop repairs laptops, desktops, and mainframe computers. On December 31, 2021, the company reports the following year-end amounts: Assets: Cash Supplies Equipment, net $10,000 8,000 26,000 Revenues: Service $65,000 Expenses: Rent 6,000 Liabilities: Accounts payable Notes payable 4,000 10,000 Supplies 14,000 Salaries 40,000 Additional information: a. b. C. The balance of retained earnings at the beginning of the year is $7,000. The company pays dividends of $1,000 on December 31, 2021. Common stock is $15,000 at the beginning of the year, and additional shares are issued for $4,000 during 2021. | Required: Prepare the (1) income statement, (2) statement of stockholders' equity, and (3) balance sheet. And also (4) use worksheet to demonstrate the trial balance, income statement and balance sheet.
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