IVANHOE COMPANY | ||
Income Statement | ||
For the Year Ended December 31, 2022 | ||
Revenues | ||
Service revenue | 71,700 | |
Expeneses: | ||
Utilities expense | 2,160 | |
Maintenance and repairs expense | 1,640 | |
Depreciation expense | 3,270 | |
Insurance expense | 2,530 | |
Salaries and wages expense | 40,700 | |
Total expenses | -50,300 | |
Net Income | $21,400 |
IVANHOE COMPANY | |
Retained Earnings Statement | |
For the Year Ended December 31, 2022 | |
Beginning retained earnings | 33800 |
Net Income | 21,400 |
$55,200 | |
Dividends | -12,000 |
Retained earnings, Ending | $43,200 |
IVANHOE COMPANY | ||
Balance Sheet | ||
For the Year Ended December 31, 2022 | ||
Assets | Amount | |
Current Assets: | ||
Cash | 13,750 | |
Accounts receivable | 15,160 | |
Supplies | 3,600 | |
Prepaid insurance | 7,140 | |
Total Current Assets | 39,650 | |
Other assets: | ||
Debt investment (long-term) | 5,600 | |
Plant,Assets : | ||
Equipment | 66,300 | |
Less:Accumulated Depreciation- Equipment | -21,250 | |
Total plant asset | 45,050 | |
Intangible assets: | ||
Trademark | 1,900 | |
Total Assets | $92,200 | |
Liabilities and Stockholders Equity | ||
Current Liabilities: | ||
Accounts payable | 20,560 | |
Salaries and wages payable | 6,640 | |
Total Current liabilities | 27,200 | |
Stockholders Equity: | ||
Common stock | 21,800 | |
Retained earnings | 43,200 | |
Total stockholders equity | 65,000 | |
Total Liabilities & Stockholders Equity | $92,200 |
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