You are provided with the following information for Maxim Enterprises, effec-

(SO 1, 3) tive as of its April 30, 2007, year-end.

Accounts. payable $ 834 Accounts receivable 810 Building, net of accumulated depreciation 137 Cash 770 Common stock 900 Cost of goods sold 990 Current portion of long-term debt 450 Depreciation expense 335 Dividends paid during the year 325 Equipment, net of accumulated depreciation Income tax expense Income taxes payable Interest expense Inventories Land Long-term debt Prepaid expenses Retained earnings, beginning Revenues Selling expenses Short-term investments Wages expense Wages payable Instructions

(a) Prepare an income statement and a retained earnings statement for Maxim Enterprises for the year ended April 30, 2007.

(b) Prepare a classified balance sheet for Maxim Enterprises as of April 30, 2007.