Gator Investments provides financial services related to investment selections, retirement planning, and general insurance needs....
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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 27,080 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, Required 1 Required 2 Required 3 Prepare the income statement for Gator Investments. GATOR INVESTMENTS Income Statement For the year ended Dec. 31, 2021 Expenses: Total expenses ROGUE Requir 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 0 Total stockholders' equity Total liabilities and stockholders' equity Total assets $ 0 $ 0
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