Using the following prepare an income statement a statement

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Using the following, prepare an income statement, a statement of retained earnings, and an income statement for the year ended 12/31/2013.

ACCOUNTS PAYABLE


$10,000

ACCOUNTS RECEIVABLE

$15,000


ACCUMULATED DEPRECIATION, EQUIPMENT


5,000

ADMINISTRATIVE EXPENSES

5,200


CASH

11,500


COMMON STOCK


20,500

COST OF GOODS SOLD

25,000


EQUIPMENT

20,000


RETAINED EARNINGS


700

SALARIES PAYABLE


3500

SALES


40000

SELLING EXPENSES

3,000


TOTALS

 $  79,700.00

 $  79,700.00

Reference no: EM13453875

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