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Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Stark company has the following adjusted accounts
Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Stark company has the following adjusted accounts and normal balances at its December 31 year-end. $ 14,000 Accumulated depreciation-Buildings $ 18,000 Notes payable Prepaid insurance Interest expense 4,600 1,600 2,800 Accounts receivable 560 Utilities expense 3,000 Interest payable 700 Unearned revenue 220 Accounts payable Wages payable Cash 950 260 16,000 Supplies expense 7,800 Buildings 70,000 2,100 stark, withdrawals 4,500 wages expense Insurance expense stark, Capital Services revenue 3,500 42,800 Depreciation expense-Buildings 35,000 Supplies 950 Exercise 3-17 (Algo) Preparing Financial Statements LO P5 Use the adjusted accounts for Stark Company to prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31 and (3) balance sheet at December 31. The Stark, Capital account balance was $42,800 on December 31 of the prior year, and there were no owner investments in the current year. Complete this question by entering your answers in the tabs below. Income Statement of Balance Sheet Statement Owners Equity Prepare the income statement for the year ended December 31. STARK COMPANY Income Statement For Year Ended December 31 Expenses Total expenses
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