PAlgo Preparing a Statement of Earnings and a Statement of Financial Position L
Assume that you are the controller of Nuclear Company. At December the end of the first year of operations, the following financial data for the company are available:
Cash
Receivables from customers all considered collectible
Inventory of merchandise based on physical count and priced at cost
Equipment owned, at cost less portion used
Payables to suppliers of merchandise
Salary payable on December this was owed to an employee who will be paid on January
Total sales revenue
Expenses, including the cost of the merchandise sold excluding income taxes
Income taxes expense at of pretax earnings; all paid during the current year
Contributed capital, shares outstanding
$
No dividends were declared or paid during the current year.
Required:
Prepare a statement of earnings for the year ended December
tableNUCLEAR COMPANYSummary Statement of EarningsFor the Year Ended December Current Year,
