Reference no: EM132525219

Question 1: Use the following information available at the end of 2012 to prepare an income statement-and balance sheet on December 31, 2012, for Goldie Company.

Fees for services performed during the year,             $120,000

Accounts payable,                                               $18,500

Accounts receivable,                                            $17,300

Miscellaneous costs for the year,                            $8,700

Supplies on hand,                                                $2,700

Notes payable outstanding,                                   $30,000

Interest cost on the note for the year,                    $3,000

Equipment,                                                         $84,400

Cash on hand,                                                     $11,200

Salaries cost for the year,                                      $71,500

Supplies cost for the year,                                     $9,400

Rent cost for the year,                                         $12,000

Common stock that has been issued,                     $60,000

Retained earnings at the end of the year,               $7,100