Island Company provides the following information at the end of 2024. Cash remaining $4,000 Rent...
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Island Company provides the following information at the end of 2024. Cash remaining $4,000 Rent expense for the year 6,200 Land that has been purchased 19,000 Retained earnings 11,600 Utility expense for the year 4,100 Accounts receivable from customers 6,400 Service revenue recognized during the year 33,000 Salary expense for the year 12,500 Accounts payable to suppliers 1,800 Dividends paid to shareholders during the year 2,400 Common stock that has been issued prior to 2024 14,000 Salaries owed at the end of the year 2,000 Insurance expense for the year 2,700 Retained earnings at the beginning of the year 6,500 No common stock is issued during 2024. Required: Prepare the income statement for Island Company on December 31, 2024. Prepare the statement of stockholders equity for Island Company on December 31, 2024. Prepare the balance sheet for Island Company on December 31, 2024
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