The Assets and Liabilities of Rocky's Day Spa at December

question 14

Essay

The assets and liabilities of Rocky's Day Spa at December 31 and expenses for the year are listed below. The stockholders' equity was $68,000 ($48,000 in Common Stock and $20,000 in Retained Earnings) at January 1. The shareholders invested in an additional $10,000 of common stock during the year. Net income for the year is $45,625. $\begin{array}{|l|c|l|r|}\hline \text { Accounts payable } & \$ 4,375 &\text { Spa operating expense } & \$ 23,760 \\\hline \text { Accounts receivable } &8,490& \text { Office expense } & 2,470 \\\hline \text { Cash } & 13,980& \text {Spa supplies } & 9,230 \\\hline \text { Fees earned } &???& \text { Wages expense } & 26,580 \\\hline \text { Spa furniture \& equipment } & 56,000& \text { Dividends } & 38,170 \\\hline \text { Computers } & 2,130 & \\\hline\end{array}$ ?
Prepare an income statement for Rocky's Day Spa for the current year ended December 31.

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Definitions:

Defense Responses

Biological processes activated in response to threats like pathogens or physical injury to protect an organism.

Cytokines

Small proteins released by cells that have a specific effect on the interactions and communications between cells, often playing pivotal roles in immune responses.

Prostaglandins

A group of physiologically active lipid compounds that have diverse hormone-like effects in animals, including inducing inflammation and pain.

Complement Proteins

Complement proteins are part of the immune system that enhances the ability of antibodies and phagocytic cells to clear pathogens from an organism.