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    Cooper Inc Financial Statement.

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    B. Prepare an income statement, statement of changes in stockholders' equity, year-end balance sheet, and statement of cash flows for the 2004 accounting period.
    Cooper, Inc., experienced the following events during 2004.
    1. Acquired $55,000 cash from the issue of common stock.
    2. Paid $15,000 cash to purchase land.
    3. Borrowed $5,000 cash from First Bank.
    4. Provided services for $21,000 cash.
    5. Paid $1,500 cash for utilities expense.
    6. Paid $11,000 cash for other operating expenses.
    7. Paid a $2,000 cash dividend to the stockholders.
    8. Determined that the market value of the land purchased in Event 2 is $20,000.

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    Solution Summary

    The solution prepare an income statement, statement of changes in stockholders' equity, year-end balance sheet, and statement of cash flows for the 2004 accounting period for Cooper Inc.

    $2.19

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