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P1-10A. Income Statement, Statement of Stockholders' Equity, and Balance Sheet Napolean Corporation LOs started business...

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Accounting

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P1-10A. Income Statement, Statement of Stockholders' Equity, and Balance Sheet Napolean Corporation LOs started business on January 1, 2016. The following information was compiled by Napolean's accoun- tant on December 31, 2016: 20,000 Building, net 59,000 7,000 Inventory. 4,500 Retained earnings Required a. You have been asked to assist the accountant for the Napolean Corporation in preparing year-end financial statements. Use the above information to prepare an income statement, statement of stockholders' equity, and a balance sheet as of December 31, 2016. Comment on the decision to pay a $5,000 dividend b

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