These financial statement items are for Batra Corporation at year-end, July 31, Prepare financial statements. 1998 :

\section*{Instructions}

(a) Prepare a single-step income statement and a retained earnings statement for the year. Batra Corporation did not issue any new stock during the year.

(b) Prepare a classified balance sheet at July 31

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Salaries expense Utilities expense $58,700 14,900 Equipment 15,900 Accounts payable 6,220 Commission revenue 63,100 Rent revenue 6,500 Unearned rent revenue 1,800 Common stock 20,000 Cash 11,940 Accounts receivable 8,780 Accumulated depreciation 5,400 Dividends 14,000 Depreciation expense 4,000 Retained earnings (beginning of the year) 25,200