Income Statement
Revenues ?
Expenses
Salaries 50,000
Operating Expenses 25,000
Utilities 5,000
Total Expenses 80,000
Net Income ?
Statement of Stockholder's Equity
Common Stock Retained Earnings
Beginning 30,000 20,000
Stock Issued
Net Income 40,000
Dividends ?
Ending 35,000 50,000

Balance Sheet
Assets Liabilities
Cash 24,000 Accounts Payable 6,000
Office Supplies ?
Prepaid Rent 6,000 Stockholder's Equity
Equipment 60,000
Common Stock ?
Retained Earnings ?
Total Stockholder's Equity ?
Total Assets ? Total Liabilities & Stockholder's Equity ?

Table With Answers

Income Statement
Revenues 120,000
Expenses
Salaries 50,000
Operating Expenses 25,000
Utilities 5,000
Total Expenses 80,000
Net Income 40,000
Statement of Stockholder's Equity
Common Stock Retained Earnings
Beginning 30,000 20,000
Stock Issued 5,000
Net Income 40,000
Dividends 10,000
Ending 35,000 50,000

Balance Sheet
Assets Liabilities
Cash 24,000 Accounts Payable 6,000
Office Supplies 1,000
Prepaid Rent 6,000 Stockholder's Equity
Equipment 60,000
Common Stock 35,000
Retained Earnings 50,000
Total Stockholder's Equity 85,000
Total Assets 91,000 Total Liabilities & Stockholder's Equity 91,000