Question

Cornhusker Company provides the following information at the end of 2018. 3,600 Cash remaining 5,800 Rent expense for the year 20,000 Land that has been purchased 11,200 Retained earnings 3,700 Utility expense for the year 6,000 Accounts receivable from customers Service revenue earned during the year 31,000 12,100 Salary expense for the year 1,600 Accounts payable to suppliers 2,000 Dividends paid to shareholders during the year 15,000 Common stock that has been issued prior to 2018 1,800 Salaries owed at the end of the year 2,300 Insurance expense for the year No common stock is issued during 2018, and the balance of retained earnings at the beginning of 2018 equals $6,100. Required: 1. Prepare the income statement for Cornhusker Company on December 31, 2018 CORNHUSKER COMPANY Income Statement For the year ended December 31, 2018 Expenses