Cornhusker Company provides the following information at the end of 2021. Cash remaining $3,800
Rent expense for the year 6,000
Land that has been purchased 20,000
Retained earnings 11,400
Utility expense for the year 3,900
Accounts receivable from customers 6,200
Service revenue recognized during the year 32,000
Salary expense for the year 12,300
Accounts payable to suppliers 1,700
Dividends paid to shareholders during the year 2,200
Common stock that has been issued prior to 2021 15,000
Salaries owed at the end of the year 1,900
Insurance expense for the year 2,500
Retained earnings at the beginning of the year 6,300

No common stock is issued during 2021.

Required:
a. Prepare the income statement for Cornhusker Company on December 31, 2021.
b. Prepare the statement of stockholders’ equity for Cornhusker Company on December 31, 2021.
c. Prepare the balance sheet for Cornhusker Company on December 31, 2021.

Sean lives in dallas and runs a business that sells boats. in an average year, he receives $722,000 from selling boats. of this sales revenue, he must pay the manufacturer a wholesale cost of $422,000; he also pays wages and utility bills totaling $268,000. he owns his showroom; if he chooses to rent it out, he will receive $2,000 in rent per year. assume that the value of this showroom does not depreciate over the year. also, if sean does not operate this boat business, he can work as a paralegal, receive an annual salary of $21,000 with no additional monetary costs, and rent out his showroom at the $2,000 per year rate. no other costs are incurred in running this boat business.identify each of sean's costs in the following table as either an implicit cost or an explicit cost of selling boats.implicit costexplicit costthe wages and utility bills that sean pays the rental income sean could receive if he chose to rent out his showroom the salary sean could earn if he worked as a paralegal the wholesale cost for the boats that sean pays the