Assume that you are the president of Rock Point Adventures Inc. At the end of the second year of operations (June 30, 2017), the following financial data for the company are available: 

Required: 

1. Prepare an income statement for the year ended June 30, 2017. 

2. Prepare a statement of retained earnings for the year ended June 30, 2017. 

3. Prepare a balance sheet at June 30, 2017.

Transcribed Image Text:

$ 2,058 124,579 Bank Overdraft Accounts Receivable Supplies Property and Equipment Other Assets 14,356 136,897 3,857 Accounts Payable Notes Payable 58,973 74,985 Other Liabilities 3,765 Sales Revenue 143,098 Rental Revenue 34,986 Concessions Revenue 25,873 74,390 Operating Expenses Rent Expense Concessions Expenses Other Expenses Contributed Capital Retained Earnings, July 1, 2016 25,198 21,985 4,278 58,346 53,456 Dividends 50,000