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The December 31, 2026, sccount balances for Coyote Corporation are presented below. The balances have already been appropriately adjusted. Accounts Cash Balance $15,000 Accounts Receivable 165,000 Prepaid Rent 5,000 Supplies Land Sala Payable Payable Interest Payable Notes Payable (due in 2 years) Common Stock 33,000 280,000 15,000 14,000 5,000 43,000 315,000 Retained Earnings 56,000 Service Reven 515,000 Salaries Expense 483,000 Het Expense 23,000 utilities Expense 43,000 Interest Expense 5,000 Required: 1. Prepare an Income statement for the year ended December 31, 2026. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2026, assuming no common stock was issued during 2026 3. Prepare a classified balance sheet as of December 31, 2026. Answer is not complete. Complete this question by entering your answers in the tabs below. Income Statement Statement of Stockholders Balance Sheet Equity Prepare a classified balance sheet as of December 31, 2026. Assets Current assets Cash Accounts Receivable Supples Prepaid Rent Totalcumentat 0000 COYOTE CORPORATION Balance Sheet December 31, 2028 $ 15.000 → 165.000 33,000 6000-> 219.000 Currentabilities: Accounts Payable Salaries Payable Interest Payable Totalcumentaties Long-term assots Land Total long-term ass Total assets Long-term liabilities Liabilities Notas Payable Total Tables Stockholders' Equity $ 280,000 Common Stock Retained Earings Total stockholders equity 000 0 00 15,000 14,000 6,000 35,000 43,000 78.000 315,000 66,000 280.000 499,000 Total liabilities and stockholders' equity 15 381,000 450,000

The December 31, 2026, sccount balances for Coyote Corporation are presented below. The balances have already been appropriately adjusted. Accounts Cash Balance $15,000 Accounts Receivable 165,000 Prepaid Rent 5,000 Supplies Land Sala Payable Payable Interest Payable Notes Payable (due in 2 years) Common Stock 33,000 280,000 15,000 14,000 5,000 43,000 315,000 Retained Earnings 56,000 Service Reven 515,000 Salaries Expense 483,000 Het Expense 23,000 utilities Expense 43,000 Interest Expense 5,000 Required: 1. Prepare an Income statement for the year ended December 31, 2026. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2026, assuming no common stock was issued during 2026 3. Prepare a classified balance sheet as of December 31, 2026. Answer is not complete. Complete this question by entering your answers in the tabs below. Income Statement Statement of Stockholders Balance Sheet Equity Prepare a classified balance sheet as of December 31, 2026. Assets Current assets Cash Accounts Receivable Supples Prepaid Rent Totalcumentat 0000 COYOTE CORPORATION Balance Sheet December 31, 2028 $ 15.000 → 165.000 33,000 6000-> 219.000 Currentabilities: Accounts Payable Salaries Payable Interest Payable Totalcumentaties Long-term assots Land Total long-term ass Total assets Long-term liabilities Liabilities Notas Payable Total Tables Stockholders' Equity $ 280,000 Common Stock Retained Earings Total stockholders equity 000 0 00 15,000 14,000 6,000 35,000 43,000 78.000 315,000 66,000 280.000 499,000 Total liabilities and stockholders' equity 15 381,000 450,000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...
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The December 31, 2026, sccount balances for Coyote Corporation are presented below. The balances have already been appropriately adjusted. Accounts Cash Balance $15,000 Accounts Receivable 165,000 Prepaid Rent 5,000 Supplies Land Sala Payable Payable Interest Payable Notes Payable (due in 2 years) Common Stock 33,000 280,000 15,000 14,000 5,000 43,000 315,000 Retained Earnings 56,000 Service Reven 515,000 Salaries Expense 483,000 Het Expense 23,000 utilities Expense 43,000 Interest Expense 5,000 Required: 1. Prepare an Income statement for the year ended December 31, 2026. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2026, assuming no common stock was issued during 2026 3. Prepare a classified balance sheet as of December 31, 2026. Answer is not complete. Complete this question by entering your answers in the tabs below. Income Statement Statement of Stockholders Balance Sheet Equity Prepare a classified balance sheet as of December 31, 2026. Assets Current assets Cash Accounts Receivable Supples Prepaid Rent Totalcumentat 0000 COYOTE CORPORATION Balance Sheet December 31, 2028 $ 15.000 → 165.000 33,000 6000-> 219.000 Currentabilities: Accounts Payable Salaries Payable Interest Payable Totalcumentaties Long-term assots Land Total long-term ass Total assets Long-term liabilities Liabilities Notas Payable Total Tables Stockholders' Equity $ 280,000 Common Stock Retained Earings Total stockholders equity 000 0 00 15,000 14,000 6,000 35,000 43,000 78.000 315,000 66,000 280.000 499,000 Total liabilities and stockholders' equity 15 381,000 450,000 <statement of Blookholders Equity Bel>
Transcribed Image Text:The December 31, 2026, sccount balances for Coyote Corporation are presented below. The balances have already been appropriately adjusted. Accounts Cash Balance $15,000 Accounts Receivable 165,000 Prepaid Rent 5,000 Supplies Land Sala Payable Payable Interest Payable Notes Payable (due in 2 years) Common Stock 33,000 280,000 15,000 14,000 5,000 43,000 315,000 Retained Earnings 56,000 Service Reven 515,000 Salaries Expense 483,000 Het Expense 23,000 utilities Expense 43,000 Interest Expense 5,000 Required: 1. Prepare an Income statement for the year ended December 31, 2026. 2. Prepare a statement of stockholders' equity for the year ended December 31, 2026, assuming no common stock was issued during 2026 3. Prepare a classified balance sheet as of December 31, 2026. Answer is not complete. Complete this question by entering your answers in the tabs below. Income Statement Statement of Stockholders Balance Sheet Equity Prepare a classified balance sheet as of December 31, 2026. Assets Current assets Cash Accounts Receivable Supples Prepaid Rent Totalcumentat 0000 COYOTE CORPORATION Balance Sheet December 31, 2028 $ 15.000 → 165.000 33,000 6000-> 219.000 Currentabilities: Accounts Payable Salaries Payable Interest Payable Totalcumentaties Long-term assots Land Total long-term ass Total assets Long-term liabilities Liabilities Notas Payable Total Tables Stockholders' Equity $ 280,000 Common Stock Retained Earings Total stockholders equity 000 0 00 15,000 14,000 6,000 35,000 43,000 78.000 315,000 66,000 280.000 499,000 Total liabilities and stockholders' equity 15 381,000 450,000 <statement of Blookholders Equity Bel>
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