Question

midterm review packet. i am struggling to form an income statement for this company. i am unsure how to a statement for stockholders equity for the year as well.

Below are the account balances for Hydrangea Incas of December 31, 2019 after adjusting entries. The accounts are listed in alphabetical order. There was no new investment by stockholders' during the year. Prepare financial statements for Hydrangea, Inc, on the templates on the following pages. o Single-Step Income Statement • Statement of Stockholders' Equity O Classified Balance Sheet Accounts Payable Accounts Receivable Accumulated Depn - Eqpt Cash Common Stock Cost of Goods Sold Depreciation Expense Dividends Equipment Goodwill Long-Term Debt Retained Earnings Revenues Supplies Supplies Expense Wages Expense 1,950 2,000 300 10,700 5,000 3,600 200 1,000 3,000 1,000 1,500 2,500 13,300 350 500 2,200

Answer 1

1.Income Statement

Hyderabad Inc Income Statement For the years ende 31st Dec 2019 Particulars Amount 13300 3600 350 Revenue (A) Cost Cost of Good sold Supplies Supplies Expenses Wages Expenses Depreciation Expenses Total Cost (B) Income (A-B) 500 2200 200 6850 6450

2.Stake Holders Equity

Statement of Stake holders Equity
Retained Earnings			2500
Income		6450
Dividend		-1000
Net Profit			5450
Stake Holders Equity			7950