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.