The following accounts and balances were drawn from the records of Barker Company at December 31,...

The following accounts and balances were drawn from the records of Barker Company at December 31, 2018:


Supplies	$	770		Beginning retained earnings	$	18,000
Cash flow from investing act.		(6,900	)	Cash flow from financing act.		(5,600	)
Prepaid insurance		2,500		Rent expense		2,600
Service revenue		85,000		Dividends		5,400
Other operating expenses		43,000		Cash		12,300
Supplies expense		240		Accounts receivable		18,000
Insurance expense		1,200		Prepaid rent		4,900
Beginning common stock		900		Unearned revenue		6,900
Cash flow from operating act.		7,000		Land		38,000
Common stock issued		5,700		Accounts payable		12,410

Required

Use the accounts and balances from Barker Company to construct an income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows (show only totals for each activity on the statement of cash flows).

Use the accounts and balances from Barker Company to construct an income statement.

BARKER COMPANY
Income Statement
For the Year Ended December 31, 2018
Revenue


Total revenue		$0
Expenses





Total expenses		0
		$

Use the accounts and balances from Barker Company to construct statement of changes in stockholders’ equity.

BARKER COMPANY
Statement of Changes in Stockholders’ Equity
For the Year Ended December 31, 2018
Beginning common stock

Ending common stock		$0
Beginning retained earnings


Ending retained earnings		0
Total stockholders’ equity		$0

Use the accounts and balances from Barker Company to construct balance sheet.

BARKER COMPANY
Balance Sheet
As of December 31, 2018
Assets







Total assets		$0
Liabilities



Total liabilities		$0
Stockholders’ Equity



Total stockholders’ equity		0
Total liabilities and stockholders’ equity		$

Use the accounts and balances from Barker Company to construct statement of cash flows (show only totals for each activity on the statement of cash flows). (Amounts to be deducted and cash outflows should be indicated with a minus sign.)

BARKER COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2018
Cash flow from operating activities
Cash flow from investing activities
Cash flow from financing activities
Net change in cash	(5,500)

Ending cash balance	$12,300

Solutions

Expert Solution

ekkarill92 answered 1 year ago

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