Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Transcribed Image Text:The following information for the year ended December 31, 2021, was reported by Nice Bite, Incorporated
Accounts Payable
Accounts Receivable
Cash (balance on January 1, 2021)
Cash (balance on December 31, 2021)
Common Stock
Dividends
Equipment
Income Tax Expense
Interest Expense
Inventory
Notes Payable
Office Expense
Prepaid Rent
Retained Earnings (beginning)
Salaries and Wages Expense
Service Revenue
Utilities Expense
Salaries and Wages Payable
Other cash flow information:
Cash from issuing common stock
Cash paid to reacquire common stock
Cash paid for income taxes
Cash paid to purchase long-term assets
Cash paid to suppliers and employees
Cash received from customers
$ 52,000
29,800
104,400
89,000
148,000
0
143,700
10,800
30, 200
17,900
29,700
15,000
7,700
9,800
36,400
151,800
25,800
15,000
$ 28,000
31,700
11,700
59,400
91,600
151,000
PLEASE PREPARE INCOME STATEMENT, STATEMENT OF RETAINED
EARNINGS, AND BALANCE SHEET.
W
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