Answer:
Hi there!!
Assets Liabilities
Cash $93,000 Accounts Payable $53,000
Accounts Receivable $30,800 Salaries and Wages Payable $16,000
Inventory $18,000 Notes Payable $30,900
Equipment $144,700 Total Liabilities $99,900
Stockholders' equity
Common Stock $149,000
Retained Earnings $10,300
Net Income $27,300
Total stockholders' equity $186,600
Total Assets $286,500 Total Liabilities and $286,500
stockholdes' equity
Explanation:
First, we make the Income Statement and determine the Net Income.
That is the data that we must find out in order to complete the balance sheet.
Income Statement
Service Revenue $153,800
Deduct expenses
Salaries and Wages $36,500
Prepaid Rent $7,800
Office $15,100
Utilities $25,900
Interest $30,300
Income Tax $10,900
Net Income $27,300
