Chapter 1, Problem 1.5AP

Cornhusker Company provides the following information at the end of 2018.

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 earned 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 2018	16,000
Salaries owed at the end of the year	2,400
Insurance expense for the year	3,500

Required:

Prepare the income statement, statement of stockholders' equity, and balance sheet for Corhusker Company on December 31, 2018. No common stock is issued during 2018, and the balance of retained earnings at the beginning of 2018 equals $7,300.