Blue Lagoon Company provides the following information at the end of 2024.
Cash remaining
Rent expense for the year
Land that has been purchased
Retained earnings
Utility expense for the year
Accounts receivable from customers
Service revenue recognized during the year
Salary expense for the year
Accounts payable to suppliers
Dividends paid to shareholders during the year
Common stock that has been issued prior to 2024
Salaries owed at the end of the year
Insurance expense for the year
Retained earnings at the beginning of the year
No common stock is issued during 2024.
$3,100
5,300
19,000
10,700
3,200
5,500
28,500
11,600
1,350
1,500
14,000
1,550
1,800
5,600
Required:
1. Prepare the income statement for Blue Lagoon Company on December 31, 2024.
2. Prepare the statement of stockholders' equity for Blue Lagoon Company on December 31, 2024.
3. Prepare the balance sheet for Blue Lagoon Company on December 31, 2024.
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