Constructing income statement

Assume the following beginning balance for Rustic Camp Sites as of January 1, 20xx: Cash $51,000 Land $500,000 Notes Payable $400,000 Common Stock $120,000 Retained Earnings $31,000 Assume the following ending balance as of the end of the year Cash $230,000 Land $400,000 Notes Payable $400,000 Common Stock $152,000 Ending retained earnings $78,000 Dividends $9,000 Revenues $116,000 Expense $60,000 Construct an income statement, statement of changes in stockholders’ equity and balance sheet as of the end of the year 20xx using the following Excel template: Financial Statement TemplatePreview the document Please note that you should change the notifications under the “Setting” option so that you are notified when a grade is entered.