These financial statement items are for below Corporation at year-end,
Salaries and wages payable $ 2,580
Salaries and wages expense 48,700
Utilities expense 22,600
Equipment 21,000
Accounts payable 4,100
Service revenue 64,100
Rent revenue 8,500
Notes payable (due 2014) 1,800
Common stock 16,000
Cash 24,200
Accounts receivable 12,780
Accumulated depreciation 6,000
Dividends 5,000
Depreciation expense 4,000
Retained earnings (beginning of the year) 35,200
Instructions (a) prepare an adjusted trial balance. Then use adjusted tiral to prepare income statement and a retained earnings statement for the year. Above Corporation did not issue any new stock during the year. (b) Prepare a classified balance sheet at July 31.