Question

Required information Exercise 3-16A Prepare financial statements from an adjusted trial balance (LO3-5) The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented belov credit Debit s 11,100 141,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense 5,100 25,500 310,000 $126,000 11,100 10,100 4,100 31,000 210,000 51,000 410,000 310,000 15,500 31,000 4,100 Totals $853,300 $853,300

Answer 1

Net income:
Service revenue			410000
Less: Expenses
Salaries expenses		310000
Rent expenses		15500
Depreciation expenses		31000
Interest expenses		4100
Total expenses			360600
Net income:			49400
Statement of Stockholder's equity:
			Common	Retained	Total
			Stock	Earnings	Stockholder's equity
Balance on jan 01			210000	51000	261000
Add: Net income			0	49400	49400
Less: Dividend			0	0	0
balance at Dec 31			210000	100400	310400