The following information relates to La Greca Co. for the year 2022.

Instructions

After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2022.

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Retained earnings, January 1, 2022 Dividends during 2022 Advertising $ 1,800 $48,000 expense 5,000 Rent 10,400 expense Service revenue 62,500 Utilities 3,100 expense Salaries and wages 28,000 expense