Question

In: Accounting

Cornhusker Company provides the following information at the end of 2018. Cash remaining $ 2,900...

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

Cash remaining $ 2,900

Rent expense for the year 5,100

Land that has been purchased 21,000

Retained earnings 10,500

Utility expense for the year 3,000

Accounts receivable from customers 5,300

Service revenue earned during the year 27,500

Salary expense for the year 11,400

Accounts payable to suppliers 1,250

Dividends paid to shareholders during the year 1,300

Common stock that has been issued prior to 2018 16,000

Salaries owed at the end of the year 1,450

Insurance expense for the year 1,600

No common stock is issued during 2018, and the balance of retained earnings at the beginning of 2018 equals $5,400.

Required:

1. Prepare the income statement for Cornhusker Company on December 31, 2018.

2. Prepare the statement of stockholders’ equity for Cornhusker Company on December 31, 2018.

3. Prepare the balance sheet for Cornhusker Company on December 31, 2018.

Expert Solution

ekkarill92 answered 3 months ago

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