Question

1. Prepare income statement for 2015

2. Prepare its statement of stockholders' equity for 2015

3. Prepare its balance sheet at December 31, 2015

The records of Geyer, Inc., show the following infromation after all transactions are recorded for 2015

Notes Payable	$        4,000
service fees earned	$      67,600
supplies expense	$        9,700
insurance expense	$        1,500
miscellaneous expense	$           200
common stock (beg. Year)	$        4,000
accounts payable	$        1,800
Supplies expense	$        6,100
cash	$      14,800
advertising expense	$        1,700
salary expense	$      30,000
rent expense	$        7,500
retained earnings expense	$        6,200

Geyer, Inc., raised $1,400 cash through the issuance of additional common stock during this year and it declared and paid a $13,500 cash dividend near year-end.

Answer 1