Assume
that you are the president of Nuclear Company. At the end of the first
year of operations (December 31, 2009), the following financial data for
the company are available:
Cash | $ | 12,300 | |
Accounts Receivable | 79,500 | ||
Supplies | 9,300 | ||
Equipment | 51,000 | ||
Accounts Payable | 22,797 | ||
Notes Payable | 1,430 | ||
Sales Revenue | 91,500 | ||
Operating Expenses | 47,200 | ||
Other Expenses | 7,650 | ||
Contributed Capital | 91,473 | ||
Dividends | 250 | ||
|
Requirement 1: |
Prepare an income statement for the year ended December 31, 2009. (Omit the "$" sign in your response.)
|
NUCLEAR COMPANY Income Statement For the Year Ended December 31, 2009 | |
Sales revenue | $ |
| |
Expenses | |
Operating expenses | |
Other expenses | |
| |
Total Expenses | |
| |
Net income | $ |
| |
|
Requirement 2: |
Prepare a statement of retained earnings for the year ended December 31, 2009. (Leave no cells blank - be certain to enter "0" wherever required. Input all amounts as positive values. Omit the "$" sign in your response.)
|
NUCLEAR COMPANY Statement of Retained Earnings For the Year Ended December 31, 2009 | |
Retained Earnings, January 1, 2009 | $ |
Add: Net income | |
Less: Dividends | |
| |
Retained Earnings, December 31, 2009 | $ |
| |
|
Requirement 3: |
Prepare a balance sheet at December 31, 2009. (Be sure to list the assets in order of their liquidity. Omit the "$" sign in your response.)
|
NUCLEAR COMPANY Balance Sheet At December 31, 2009 | |
Assets | |
Cash | $ |
Accounts receivable | |
Supplies | |
Equipment | |
| |
Total Assets | $ |
| |
Liabilities | |
Accounts payable | |
Notes payable | |
| |
Total Liabilities | |
| |
Stockholders' Equity | |
Contributed capital | |
Retained earnings | |
| |
Total Stockholders' Equity | |
| |
Total Liabilities and Stockholders' Equity | $ |
| |
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