Question
The December 31, 2024, adjusted trial balance for Coyote Corporation is presented below. Accounts Cash Accounts Receivable Prepaid Rent Supplies Land Accounts Payable Salaries
The December 31, 2024, adjusted trial balance for Coyote Corporation is presented below. Accounts Cash 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 Credit $22,000 195,000 5,000 39,000 310,000 $21,000 20,000 6,000 49,000 345,000 78,000 545,000 409,000 29,000 49,000 6,000 $1,064,000 $1,064,000 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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