Question - These financial statement items are for Raiders Company at year end, December 31, 2016.
Salaries and wages payable $2,980
Salaries and wages expense $45,700
Utilities expense $19,100
Equipment $38,000
Accounts payable $4,100
Service Revenue $57,000
Rent Revenue $6,500
Notes payable (long term) $3,000
Cash $7,200
Accounts receivable $9,780
Accumulated depreciation $6,000
Dividends $4,000
Depreciation Expense $4,000
Retained Earnings $28,000
Common Stock $20,000
A) Prepare income statement for the year.
B) Prepare retained earnings statement for the year.
C) Prepare classified balance sheet at December 31.