E4-17 These financial statement items are for B. Snyder Company Inc. at year-end,July 31,2008. Prepare financialstatements.

Salaries payable $ 2,080 Note payable (long-term) $ 1,800 Salaries expense 51,700 Cash 24,200 Utilities expense 22,600 Accounts receivable 9,780 Equipment 18,500 Accumulated depreciation 6,000 Accounts payable 4,100 Dividends 4,000 Commission revenue 61,100 Depreciation expense 4,000 Rent revenue 8,500 Retained earnings (beginning 21,200 Common stock 30,000 of the year)

Instructions

(a) Prepare an income statement and a retained earnings statement for the year.

(b) Prepare a classified balance sheet at July 31.