Cornhusker Company provides the following information at the end of 2021.Cash remaining $ 4,800Rent expense for the year 7,000Land that has been purchased 21,000Retained earnings 12,400Utility expense for the year 4,900Accounts receivable from customers 7,200Service revenue recognized during the year 37,000Salary expense for the year 13,300Accounts payable to suppliers 2,200Dividends paid to shareholders during the year 3,200Common stock that has been issued prior to 2021 16,000Salaries owed at the end of the year 2,400Insurance expense for the year 3,500Retained earnings at the beginning of the year 7,300Required:Prepare the income statement, statement of stockholders’ equity, and balance sheet for Cornhusker Company on December 31, 2021. No common stock is issued during 2021.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Cornhusker Company provides the following information at the end of 2021.

Cash remaining $ 4,800
Rent expense for the year 7,000
Land that has been purchased 21,000
Retained earnings 12,400
Utility expense for the year 4,900
Accounts receivable from customers 7,200
Service revenue recognized during the year 37,000
Salary expense for the year 13,300
Accounts payable to suppliers 2,200
Dividends paid to shareholders during the year 3,200
Common stock that has been issued prior to 2021 16,000
Salaries owed at the end of the year 2,400
Insurance expense for the year 3,500
Retained earnings at the beginning of the year 7,300

Required:
Prepare the income statement, statement of stockholders’ equity, and balance sheet for Cornhusker Company on December 31, 2021. No common stock is issued during 2021.

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