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America Corporation
America Corporation
America Corporation
Income Statement For the Year Ending December 31, 2009 Revenues Service to Customers Interest Revenue Total Revenues Expenses Salaries Rent Other Operating Expenses Total Expenses Net Income $235,000 115,000 300,000 $650,000 $115,000 $750,000 15,000 $765,000
AMERICA CORPORATION
Statement of Retained Earnings For the Year Ending December 31, 2009 Retained earnings - January 1, 2009 $400,000 Plus: Net income 115,000 $515,000 Less: Dividends 35,000 Retained earnings - December 31, 2009 $480,000
AMERICA CORPORATION
Balance Sheet December 31, 2009 Assets Cash Accounts receivable Land Other assets Total Assets Liabilities $192,000 248,000 450,000 10,000 $900,000
Salaries payable Accounts payable Total Liabilities Stockholders' Equity Capital stock Retained earnings Total Stockholders' Equity Total Liabilities and Equity
AMERICA CORPORATION
Statement of Cash Flows December 31, 2009 Operating activities Cash received from customers Cash received from interes Cash paid for salaries Cash paid for rent Cash paid for other items Cash provided by operations Investing activities Purchase of land Financing activities Payment of dividends Decrease in Cash Cash, January 1 Cash, December 31 (35,000) ($205,000) 397,000 $192,000 (250,000) $720,000 15,000 (240,000) (115,000) (300,000) $80,000