Answer Happy

Task 3: Haasen Corporation, a real estate company, is authorized to issue 40 000 5% cumulative preferred stock with a stated value of $15, and an unlimited number of no par value common stock. There are currently 13 000 preferred shares issued, and 20 000 common shares issued. Given the information below, prepare an income statement, statement of retained earnings, and the shareholders' equity section of the balance sheet, for the year ended December 31, 2015. Haasen Real Estate Corporation Haasen Real Estate Corporation Statement of Retained Earnings Income Statement For the Year Ended December 31, 2015 For the Year Ended December 31, 2015 Common Stock Retained Earnings, January 1 Contributed Capital in Excess of Stated Value - Preferred Stock Telephone Expense Rent Expense Preferred Stock Automobile Expense Wages Expense Real Estate Fees Earned Cash Dividends - Common General Expense Cash Dividend Preferred 134,000 27,000 80,000 8,000 24,000 ????? 12,000 107,000 289,000 88,000 4,000 9,750 Haasen Real Estate Corporation Partial Balance Sheet For the Year Ended December 31, 2015