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Prepare an income statement for ramirez enterprises for the

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Reference no: EM13966083

You are provided with the following information for Ramirez Enterprises, effective as of its April 30, 2014, year-end.

Accounts payable

884

Accounts receivable

999

Accumulated depreciation-equipment

670

Cash

1459

Common stock

1467

Cost of goods sold

1110

Depreciation expense

285

Dividends

375

Equipment

2609

Income tax expense

215

Income taxes payable

185

Insurance expense

260

Interest expense

450

Inventory

1156

Land

3289

Mortgage payable

3689

Notes payable

250

Prepaid insurance

110

Retained earnings (beginning)

1600

Salaries and wages expense

650

Salaries and wages payable

272

Sales revenue

5289

Stock investments (short-term)

1339

1. Prepare an income statement for Ramirez Enterprises for the year ended April 30, 2014.

2. Prepare a retained earnings statement for Ramirez Enterprises for the year ended April 30, 2014.

3. Prepare a classified balance sheet for Ramirez Enterprises as of April 30, 2014. (List current assets in order of liquidity.) 

Reference no: EM13966083

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