Prepare an income statement and a statement of retained earnings for Big Sky Corporation for the year ended June 30, 2012, based on the followinginformation:

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Capital stock (1,500 shares @ S100).. Dividends Ski rental revenue S150,000 76,800 6,500 77,900 Expenses: $6,000 38,600 2,400 7,500 7,700 Rent expense Salaries expense Advertising expense Miscellaneous expense.*rve*e.. Income taxes 2100 64,300