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Choose one of the following two assignments to complete this week. Do not do both assignments. Identify your assignment choice in the title of your submission.
Option #1: Income Statement, Retained Earnings, and Balance Sheet for Dickens Corp.
Dickens Corp.'s fiscal year ends on December 31. It started fiscal year 20X6 with $4,800 retained earnings. Below is its financial information as of December 31, 20X6.
Cash
$3,810
Depreciation expense
$1,005
Accumulated depreciation-property, plant, & equipment
$2,010
Accounts receivable
$2,430
Inventory
$2,901
Dividends
$975
Salaries and wages expense
$2,100
Income tax payable
$404
Short-term investment
$3,600
Accounts payable
$2,502
Property, plant, & equipment
$7,260
Salaries and wages payable
$667
Land
$9,300
Interest expense
$1,200
Mortgage payable
$10,500
Cost of goods sold
$3,180
Insurance expense
$630
Prepaid insurance
$180
Notes payable
$183
Sales Revenue
$15,300
Common stock
$2,700
Income tax expense
$495
Prepare the following financial statements for Dickens Corp. Ensure you include appropriate headings and statements are in good form.
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