Swanson Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2024, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Rent expense $1,200 19,500 2,500 3,500 6,480 Service revenue Salaries expense Buildings Supplies Salaries payable In addition, the company had common stock of $21,000 at the beginning of the year and issued an additional $2,100 during the yea The company also had retained earnings of $8,800 at the beginning of the year. Required: 1. Prepare the income statement for Swanson Corporation. 2. Prepare the statement of stockholders' equity for Swanson Corporation. 3. Prepare the balance sheet for Swanson Corporation. $72,200 54,300 21,000 1,500 800 Complete this question by entering your answers in the tabs below.

Swanson Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2024, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Rent expense $1,200 19,500 2,500 3,500 6,480 Service revenue Salaries expense Buildings Supplies Salaries payable In addition, the company had common stock of $21,000 at the beginning of the year and issued an additional $2,100 during the yea The company also had retained earnings of $8,800 at the beginning of the year. Required: 1. Prepare the income statement for Swanson Corporation. 2. Prepare the statement of stockholders' equity for Swanson Corporation. 3. Prepare the balance sheet for Swanson Corporation. $72,200 54,300 21,000 1,500 800 Complete this question by entering your answers in the tabs below.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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