Question

menry Hawk opened a new business, Hawk Electronics, on January 1, 2018. The account balances as of December 31, 2018 follow. Classify each of the following as an asset, liability, or stockholders' equity in the first column. In the second column, identify on which statement you would find the account reported: income statement (IS), statement of stockholders' equity (SHE), or balance sheet (BS). Common Stock will have two answers. Asset, Liability, Statement or Equity (IS, SHE, BS) Liability BU Accounts payable 27,310 Aure Cash 26,710 Carity B / she Common Stock 45,000 Awetu Computers 5,940 Equity Dividends 3,400 fait Electrical fees earned 42,760 Auretu Equipment 42,950 Avrett Office supplies 1690 Arreur Prepaid Insurance 1650 Equity Rent expense 7,200 Cauta Salaries expense 21,840 Liabilities Unearned fees 3180 Equity Utilities expense 6,870 Using the working papers provided in class and on Blackboard, complete an income statement, statement of stockholders' equity, and a balance sheet for Hawk Electronics on December 31, 2018. The statements should be in good form, meaning they have the correct formatting, rule lines, and dollar signs.

i need help with making an income statement, statement of stockholders equity, and balance statement can you show me how to make those using those numbers

Answer 1

Assets, liabilities, or equity	statement
	(IS, SHE, BS)
liability	BS	Account payable
assets	BS	cash
equity	SHE	common stock
asset	BS	computer
equity	SHE	dividends
equity	IS	electrical fees earned
assets	BS	equipment
assets	BS	office supplies
assets	BS	prepaid insurance
equity	IS	rent expenses
equity	IS	salaries expenses
liabilities	BS	unearned fees
equity	IS	utilities expenses
INCOME STATEMENT
FOR THE YEAR ENDED 31,DECEMBER 2018
Electronical fees earned	$ 42,760.00
less: expenses
rent expenses	$    7,200.00
salaries expenses	$ 21,840.00
utilities expenses	$    6,870.00
net income	$    6,850.00
STATEMENT OF STOCKHOLDERS' EQUITY
for the year ended december,31,2018
Begning common stock	$ 45,000.00
add: common stock issued	$                 -
ending common stock		$                                 45,000.00
Begning retained earnings	$                 -
add: net income	$    6,850.00
less: dividends	$    3,400.00
ending retained earnings		$                                   3,450.00
total stockholders equity		$                                 48,450.00
BALANCE SHEET
AS ON 31.DECEMBER 2018
CURRENT ASSETS
CASH	$ 26,710.00
OFFICE SUPPLIES	$    1,690.00
PREPAID INSURANCE	$    1,650.00
TOTAL CURRENT ASSETS		$                                 30,050.00
LONG TERM ASSETS
TOTAL
COMPUTER	$    5,940.00
EQUIPMENT	$ 42,950.00
TOTAL LONG TERM ASSETS		$                                 48,890.00
TOTAL		$                                 78,940.00
CURRENT LIABILITIES
ACCOUNT PAYABLE	$ 27,310.00
UNEARNED FEES	$    3,180.00
TOTAL CURRENT LIABILITY		$                                 30,490.00
EQUITY STAKEHOLDERS EQUITY	$ 48,450.00	$                                 48,450.00
TOTAL		$                                 78,940.00