On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue $77,000
Postage expense 1,600
Legal fees expense 2,500
Rent expense 10,800
Salaries expense 26,000
Supplies expense 15,500

In addition, the balance of common stock at the beginning of the year was $300,000, and the balance of retained earnings was $36,000. During the year, the company issued additional shares of common stock for $27,000 and paid dividends of $14,000.

Required:
a. Prepare an income statement.
b. Prepare a statement of stockholders' equity.

See below

Explanation:

A. Income statement

Service revenue

$77,000

Less:

Postage expenses

$1,600

Legal fees expense

$2,500

Rent expense

$10,800

Salaries expense

$26,000

Supplies expense

$15,500

Net income

$20,600

B. Statement of stockholder equity

This is computed as

= Total assets - Total liabilities

= Retained earnings $36,00 + Dividends $14,000 + Net income $20,600 - $300,000

the answer is: c.that person might be arrested and deported

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if those investigation teams believe that the incorrectness is done on purpose (with malicious intent), that person can be arrested or deported

c

explanation:

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