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Business, 05.08.2020 18:01 domiyisthom

Cornhusker Company provides the following information at the end of 2021. Cash remaining $3,800
Rent expense for the year 6,000
Land that has been purchased 20,000
Retained earnings 11,400
Utility expense for the year 3,900
Accounts receivable from customers 6,200
Service revenue recognized during the year 32,000
Salary expense for the year 12,300
Accounts payable to suppliers 1,700
Dividends paid to shareholders during the year 2,200
Common stock that has been issued prior to 2021 15,000
Salaries owed at the end of the year 1,900
Insurance expense for the year 2,500
Retained earnings at the beginning of the year 6,300

No common stock is issued during 2021.

Required:
a. Prepare the income statement for Cornhusker Company on December 31, 2021.
b. Prepare the statement of stockholders’ equity for Cornhusker Company on December 31, 2021.
c. Prepare the balance sheet for Cornhusker Company on December 31, 2021.

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Answers: 3

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Cornhusker Company provides the following information at the end of 2021. Cash remaining $3,800

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