Question
The December 31, 2024, adjusted trial balance for Coyote Corporation is presented below. Cash Accounts Accounts Receivable Prepaid Rent Supplies Land Accounts Payable Salaries
The December 31, 2024, adjusted trial balance for Coyote Corporation is presented below. Cash Accounts Accounts Receivable Prepaid Rent Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Utilities Expense Interest Expense Totals Required: Debit $18,000 Credit 180,000 6,000 36,000 295,000 $18,000 17,000 5,000 46,000 330,000 72,000 530,000 406,000 26,000 46,000 5,000 $1,018,000 $1,018,000 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, assuming no common stock was issued during 2024. 3. Prepare a classified balance sheet as of December 31, 2024.
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