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Assume the following beginning balance for Rustic Camp Sites as of January 1, 20xx:

Cash - $51,000

Land - $500,000

Notes Payable - $400,000

Common Stock $120,000

Retained Earnings $31,000

Assume the following ending balance as of the end of the year

Cash - $230,000

Land - $400,000

Notes Payable - $400,000

Common Stock $152,000

Ending Retained Earnings $78,000

Dividends - $9,000

Revenue - $116,000

Expense - $60,000

Construct an income statement, statement of changes in stockholders equity and balance sheet as of the end of the year 20xx, Using Excel formatted like below:

Rustic Camp Sites

Rustic Camp Sites

Income Statement

Balance Sheet

For the Year Ended December 31, 20xx

December 31, 20xx

Revenue

Cash

Expense

Land

Net Income

Total Assets

Notes Payable

Rustic Camp Sites

Statement of Changes in Stockholders Equity

Common Stock

For the Year Ended December 31, 20xx

Retained Earnings

Total Liabilities & S. Equity

Beginning Common Stock

Additional Common Stock

Ending Common Stock

Beginning Retained Earnings

Net Income

Less Dividends

Ending Retained Earnings

Total Stockholders Equity

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