RT IFINANCIAL STATEMENTS 190 polnts Jones Inc reports the fo

RT I-FINANCIAL STATEMENTS (190 polnts) Jones, Inc reports the following amounts for the year ended December 31, 2020 Accounts Payable 10,000 Advertising Espense 3,000 Utslities Expense 4,000 Prepaid Insurance 4,5so0 Equipment Cash Service Revenue 45,000 Salaries Expense 12,000 Buildings Notes Payable 20,000 Supplies 50,000 20,000 5,000 3,000 In addition, the company had common stock of $10,000 at the beginning of the year and issued an additional $5,000 during the year. The company also had retained earnmings of $22,500 at the beginning of the year and paid dividends of $1,000 during the year Prepare the income statement, statement of stockholders\' equity, an balance sheet

Solution

Income statement :

Statement of stockholder\'s equity :

Balance sheet :

REVENUE
Service revenue		45000
EXPENSES
Advertising expenses	(3000)
Utilities exp	(4000)
Salaries exp	(12000)	(19000)
Net income		26000