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The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2: Supplies$ 1,000Beginning retained earnings$ 9,300Cash flow from
The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2:
Supplies$ 1,000Beginning retained earnings$ 9,300Cash flow from investing activities(5,200)Cash flow from financing activities(5,000)Prepaid insurance1,200Rent expense2,500Service revenue65,200Dividends3,000Other operating expenses41,000Cash48,000Supplies expense1,100Accounts receivable14,200Insurance expense2,100Prepaid rent4,800Beginning common stock40,000Unearned revenue6,400Cash flow from operating activities15,600Land24,000Common stock issued5,000Accounts payable17,000Required:
Use the accounts and balances from Barker Company to construct an income statement.
Required: Use the accounts and balances from Barker Company to construct an income statement. Use the accounts and balances from Barker Company to construct statement of changes in stockholders' equity. BARKER COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 2 Beginning common stock Use the accounts and balances from Barker Company to construct statement of cash flows (show only totals for each activity on the statement of cash flows). Note: Amounts to be deducted and cash outflows should be indicated with a minus signStep by Step Solution
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