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Prepare the balance sheet for gator investments

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Reference no: EM132472251

Gator Investments provides financial services related to investment selections, retirement planning, and general insurance needs. At the end of the year on December 31, 2021, the company reports the following amounts:

Advertising expense                     $ 33,000

Service revenue                          $ 125,100

Buildings                                       145,000

Interest expense                                3,000

Salaries expense                                64,600

Utilities expense                                  15,000

Accounts payable                                  5,900

Equipment                                          24,500

Cash                                                   5,000

Notes payable                                      27,500

Point 1: In addition, the company had common stock of $110,000 at the beginning of the year and issued an additional $12,000 during the year. The company also had retained earnings of $14,300 at the beginning of the year and paid dividends of $4,700.

Required:

Question 1: Prepare the income statement for Gator Investments.

Question 2: Prepare the statement of stockholders' equity for Gator Investments.

Question 3: Prepare the balance sheet for Gator Investments.

Reference no: EM132472251

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