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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