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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

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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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