FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Reliable Services, Inc., began 2021 with total assets of $255 million and ended 2021 with total assets of $345 million. During 2021, Reliable Services earned revenues of $396 million and had expenses of
$170 million. Reliable Services declared and paid dividends of $22 million in 2021. Prepare the company's income statement for the year ended December 31, 2021, complete with an appropriate heading.
Prepare the income statement. (Enter all amounts in millions. For example, $100 million should be entered into the statement as $100. Enter a net loss with a minus sign or parentheses. If an input field is not
used in the financial statement leave the field; do not select a label enter a zero.)
Reliable Services, Inc.
Income Statement
Year Ended December 31, 2021
Revenues
Expenses
Net income (loss)
▼
(millions)
$
396
170
226
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Transcribed Image Text:Reliable Services, Inc., began 2021 with total assets of $255 million and ended 2021 with total assets of $345 million. During 2021, Reliable Services earned revenues of $396 million and had expenses of $170 million. Reliable Services declared and paid dividends of $22 million in 2021. Prepare the company's income statement for the year ended December 31, 2021, complete with an appropriate heading. Prepare the income statement. (Enter all amounts in millions. For example, $100 million should be entered into the statement as $100. Enter a net loss with a minus sign or parentheses. If an input field is not used in the financial statement leave the field; do not select a label enter a zero.) Reliable Services, Inc. Income Statement Year Ended December 31, 2021 Revenues Expenses Net income (loss) ▼ (millions) $ 396 170 226
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