50.1K

Verified Solution

Link Copied!

9 Problem 1-38 Prepare financial statements (LO1-3) Gator Investments provides financial services related to investment selections, retirement planning, and general insurance the end of the year on December 31, 2021, the company reports the following amount in addon, the company had common stock of $100.000 at the beginning of the year and issued an additional $1000 during the year The company also had retained earnings of $30,300 at the beginning of the year and paid dividends of $5.200 Required 1 Prepare the income statement for Gator Investment 2. Prepare the statement of stockholder equity for Gator investments 1. Prepare the balance sheet for Gator Investments Prepare the statemere to Get Investments GATVESTMENTS For the rec ung Can References The company also had retained earnings of $30,300 at the beginning of the year and paid dividends of $5,200. Required: 1. Prepare the income statement for Gator Investments. 2. Prepare the statement of stockholders' equity for Gator Investments. 3. Prepare the balance sheet for Gator Investments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity for Gator Investments. GATOR INVESTMENTS Statement of Stockholders' Equity For the year ended Dec. 31, 2021 Beginning balance Common Stock Retained Earnings Total Stockholders' Equity Ending balance < Required 1 Required 3> 06 9 In addition, the company had common stock of $100,000 at the beginning of the year and issued an additional $11000 during the year The company also had retained eamings of $30.300 at the beginning of the year and paid dividends of $5,200 Required: 1. Prepare the income statement for Gator Investments 2. Prepare the statement of stockholders' equity for Gator Investments 3. Prepare the balance sheet for Gator investments. Complete this question by entering your answers in the tabs below. Prepare the ice sheet for Gator Investments Total GATOR INVESTMENTS De 35202 Assets Total abies and y 06 9 In addition, the company had common stock of $100,000 at the beginning of the year and issued an additional $11,000 during the year The company also had retained earnings of $30.300 at the beginning of the year and paid dividends of $5,200 Required: 1. Prepare the income statement for Gator Investments 2. Prepare the statement of stockholders' equity for Gator investments 3. Prepare the balance sheet for Gator investments Complete this question by entering your answers in the tabs below. Required 2 Prepare the balance sheet for Gator Devestments GATOR INVESTMENTS Dec 11, 201 Assets ii T Gator Investments provides financial services related to investment selections, retirement planning, and general insurance needs. At the end of the year on December 31, 2021, the company reports the following amounts: Advertising expense Buildings Salaries expense Accounts payable Cash $ 33,500 Service revenue 150,000 Interest expense 65,100 Utilities expense 6,400 Equipment 5,500 Notes payable $127,600 3,500 15,500 27,000 30,000 In addition, the company had common stock of $100,000 at the beginning of the year and issued an additional $11,000 during the year. The company also had retained earnings of $30,300 at the beginning of the year and paid dividends of $5,200. Required: 1. Prepare the income statement for Gator Investments. 2. Prepare the statement of stockholders' equity for Gator Investments. 3. Prepare the balance sheet for Gator Investments. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the income statement for Gator Investments. GATOR INVESTMENTS Income Statement For the year ended Dec. 31, 2021 Service revenue Buildings Expenses: Interest expense Interest expense Interest expense Equipment Cash Total expenses Net income Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity for Gator Investments. GATOR INVESTMENTS Statement of Stockholders' Equity For the year ended Dec. 31, 2021 Beginning balance Common Stock Retained Earnings Total Stockholders' Equity Ending balance < Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the balance sheet for Gator Investments. GATOR INVESTMENTS Balance Sheet Dec. 31, 2021 Assets Liabilities Total liabilities 0 Stockholders' Equity Total stockholders' equity 0 Total assets $ 0 Total liabilities and stockholders' equity $ 0 < Required 2 Required 3

Answer & Explanation Solved by verified expert

See Answer