Question

can you help me with the T account, income statement,Balance sheet, earnings per share and Owners equity table . for the Year 2021. i added the info for the year 2020 to help

1,000 Assets Current Assets Cash Inventory Total Current Assets 35,400 36,400 CBB, Inc Balance Sheet December 31, 2020 Liabilities Current Liabilities $635,000 Wages Payable 80,000 Taxes Payable 715,000 Total Current Liabilities Long-Term Debt Note Payable-Phil 50,000 Total Liabilities 50,000 Owners' Equity Common Stock 1,000 Retained Earnings Total Owners' Equity Total Liabilities and $766,000 Owners' Equity 200,000 236,400 Fixed Assets Land Net Fixed Assets Other Assets Security Deposit 450,000 79,600 529,600 Total Assets $ 766,000 CBB, Inc. Income Statement For the Year Ended December 31, 2020 480,000 320,000 160,000 Sales Cost of Sales Gross Margin Operating Expenses Wage Expense Rent Expense Utilities Expense Total Operating Expenses Income from Operations Other Revenues & (Expenses) Interest Expense Income Before Taxes Tax Expense Net Income $ 21,000 12,000 1,000 34,000 126,000 (8,000) 118,000 35,400 82,600 Earnings Per Share $ 19.25 CBB, Inc. Statement of Owners' Equity For the Year Ended December 31, 2020 Common Retained Shares Stock Earnings Total 4,500 $ 450,000 $ Beginning Balance Issuance of stock Net Income Dividends Declared Ending Balance $ 82,600 (3,000) 79,600 450,000 82,600 (3,000) 529,600 4,500 $ 450,000 $ $

Do not worry about the question in the text, i just need help with the income statement2021, Balance sheet 2021, Taccount 2021, eps and owner equity 2021. the first pocture are juste the info for 2020

Answer 1

Beamer Biz 2021 - Balance sheet 2021, Income Statement 2021, TAccount2021, eps and Owners equity 2021 has been prepared for CBB Inc.

Amount ($) 432000 3000 4000 81300 520300 CBB, Inc Balance Sheet as on December 31, 2021 Amount ($) Liabilities Current Assets Current Liabilities Trade Receivables 384000 Trade Payables Cash 814600 Wages Payable Inventory 160000 Rent Payable Total Current Assets 1358600 Taxes Payable Total Current Liabilities Fixed Assets Land 50000 Long Term Debt Net Fixed Assets 50000 Note Payable - Phil Total Liabilities Other Assets Security Deposit 1000 Owners' Equity Common Stock Retained Earnings Total Owners' Equity 150000 670300 475000 264300 739300! Total Assets 1409600 Total Liabilities and owners' equity 1409600 CBB, Inc Statement of Owners' Equity For the year ended December 31, 2021 Shares Common Stock 4500 200 450000 25000 Opening Balance Issuance of Stock Net Income Dividend Paid Retained Total Earnings 79600529600 0 25000 189700 189700 -5000 -5000 264300 739300 4700 475000

CBB, Inc Income Statement For the year ended December 31,2021 Particulars Amount ($) Sales 960000 Cost of Sales 640000 Gross Margin 320000 Operating Expenses Wage expense 26000 Rent expense 12000 Utilities expense 3000 Total Operating expenses 41000 Income from Operations 279000 Other Revenues & (Expenses) Interest Expense 8000 Income before taxes 271000 Tax expenses 81300 Net Income 189700 Earnings per Share 40.361702 Particulars Opening Balance To Share Capital To Sales Cash a/c Amount ($) Particulars 635000 By Wages Payable 25000 by Utilities Payable 576000 by Rent Payable by Taxes Paid by Dividend paid by Interest Expense by Note Payable- Phil a/c by Purchases by Balance c/d 1236000 Amount ($) 24000 3000 8000 35400 5000 8000 50000 288000 814600 1236000

Particulars To Cash a/c To Balance c/d wages payable a/c Amount ($) Particulars 24000 By Balance b/d 3000 By Wages expenses 27000 Amount ($) 1000 26000 27000 Rent Expenses paid in cash outstanding Total Rent Expenses 8000 4000 12000 Profit margin of 2020 on Cost 50% Opening Stock Purchases Closing Stock Cost of Sales Margin Sales 80000 720000 160000 640000 50% 960000