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The following information applies to the questions displayed below] Assume you are the president of Nuclear Company. At the end of the first year
The following information applies to the questions displayed below] Assume you are the president of Nuclear Company. At the end of the first year of operations (December 31), the following financial data for the company are available: Accounts Payable $40,000 Accounts Receivable 61,000 Cash 17,000 Common Stock 64,780) Dividends 300 Equipment 35,000 Notes Payable 1.570 Operating Expenses 65,500 Other Expenses 9,350 Sales Revenue Supplies 89,300 7,500 2. Prepare a statement of retained earnings for the year ended December 31 TIP: Because this is the first year of operations, the beginning balance in Retained Earnings will be zero. NUCLEAR COMPANY Statement of Retained Earnings Retained Earnings, January 11 $ Add Net income Less Dividends 300 Retained Eamings, December 31 $ (100) wyck my work
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