These items are taken from the financial statements of Kidman Corporation for 2001:

Instructions Prepare an income statement, a retained earnings statement, and a classified balance sheet for December 31, 2001.

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Retained earnings (beginning of year) $26,000 Utilities expense 1,700 Equipment 66,000 Accounts payable 13,300 Cash Salaries payable Common stock Dividends 13,600 3,000 13,000 12,000 Service revenue 76,000 Prepaid insurance 3,500 Repair expense 1,800 Depreciation expense 2,600 Accounts receivable 13,500 Insurance expense 2,200 Salaries expense 35,000 Accumulated depreciation 20,600