Prepare an income statement a retained earnings statement

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Reference no: EM13480818

These items are taken from the financial statements of Tilley, Inc.

Prepaid insurance

$ 1,400

Equipment

31,000

Salaries and wages expense

36,000

Utilities expense

2,100

Accumulated depreciation-equipment

8,600

Accounts payable

8,200

Cash

5,100

Accounts receivable

$ 4,900

Salaries and wages payable

2,000

Common stock

6,000

Depreciation expense

4,300

Retained earnings (beginning)

14,000

Dividends

2,600

Service revenue

53,000

Maintenance and repairs expense

2,600

Insurance expense

1,800

Instructions

Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2012.

Reference no: EM13480818

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