Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet and Interpreting the Financial Statements LO LO
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Assume you are the president of Nuclear Company. At the end of the first year of operations December the following financial data for the company are available:
Accounts Payable $
Accounts Receivable
Cash
Common Stock
Dividends
Equipment
Notes Payable
Operating Expenses
Other Expenses
Sales Revenue
Supplies
CPAlgo Part
Required:
Prepare an income statement for the year ended December
TIP: Begin by classifying each account as asset, liability, stockholders equity, revenue, or expense. Each account is reported on only one financial statement.
