Sandy Bottom Consulting is a consulting firm owned and operated by Dee Schofield. The end-of-period spreadsheet (work sheet) shown below was-prepared for the year ended August 31, 2008.

Based upon the preceding spreadsheet, prepare an income statement, retained earnings statement, and balance sheet for Sandy Bottom Consulting.objs. 2,3

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A B C D E F G H K Sandy Bottom Consulting End-of-Period Spreadsheet (Work Sheet) For the Year Ended August 31, 2008 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 1 Cash 10,000 10,000 10,000 2 Accounts Receivable 12,500 12,500 12.500 3 Supplies 2,200 (a) 1.750 450 450 3 4 Office Equipment 14,500 14,500 14,500 4 5 Accumulated Depreciation 2,500 (b) 1,200 3,700 3.700 5 6 Accounts Payable 6,100 6,100 6,100 6 7 Salaries Payable (c) 800 800 800 7 8 Capital Stock 7,000 7,000 7,000 8 9 Retained Earnings 12,400 12,400 12,400 9 10 Dividends 2,700 2,700 2,700 10 11 Fees Earned 32,000 32,000 32,000 11 12 Salary Expense 16,250 (c) 800 17,050 17,050 12 13 Supplies Expense (a) 1,750 1,750 1,750 13 14 Depreciation Expense (b) 1.200 1,200 1,200 14 15 Miscellaneous Expense 1,850 1,850 1,850 15 16 60,000 60,000 3,750 3.750 62,000 62,000 17 Net income 21,850 32,000 10,150 40,150 30,000 16 10,150 17 18 32,000 32,000 40,150 40,150 18