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The December 31, 2024, account balances for Coyote Corporation are presented below. The balances have already been appropriately adjusted. Accounts Balance Cash $22,000 Accounts
The December 31, 2024, account balances for Coyote Corporation are presented below. The balances have already been appropriately adjusted. Accounts Balance Cash $22,000 Accounts Receivable 195,000 Prepaid Rent 5,000 Supplies 39,000 Land 310,000 Accounts Payable 21,000 Salaries Payable 20,000 Interest Payable 6,000 ok Notes Payable (due in two 49,000 years) Common Stock 345,000 Retained Earnings 78,000 ht Service Revenue 545,000 Salaries Expense 409,000 Rent Expense 29,000 Utilities Expense 49,000 nt Interest Expense 6,000 Required: 1. Prepare an income statement for the year ended December 31, 2024. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2024, asuming no common stock was issued. during 2024. 3. Prepare a classified balance sheet as of December 31, 2024.
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