The following information is for Wild Horse Inc. for the year ended December 31, 2021 Common shares January 1, $24400 common share issued during year 12,200 Retained earnings January 1, 70, 760 Office expense 1952 Dividends declared 6100 Rent expense 15128 Service revenue 74420 Utilities expense 2,928 Salaries expense $36600 Income tax expense $3660 Prepare a statement of Income of the year. Enter negative amounts using either a negative sign preceding the number e.g. minus.

The following information is for Wild Horse Inc. for the year ended December 31, 2021 Common shares January 1, $24400 common share issued during year 12,200 Retained earnings January 1, 70, 760 Office expense 1952 Dividends declared 6100 Rent expense 15128 Service revenue 74420 Utilities expense 2,928 Salaries expense $36600 Income tax expense $3660 Prepare a statement of Income of the year. Enter negative amounts using either a negative sign preceding the number e.g. minus.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 13E: Ratio of liabilities to stockholders equity and times interest earned The following data were taken...

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