23 Mohammed Salah Mahmoud Alsa From the information given below prepare the following financial statements: a)- Income Statement b)- Retained Earnings Statement c)- Balance Sheet Rent expense 760 Retained earnings, beginning 13,960 Salaries and wages expense 6,840 Equipment 24,250 Sales revenue 21,450 Income tax expense 1,600 Income taxes payable 300 Interest expense 350 Dividends 2,800 Interest payable 175 Notes payable (due in 2016) 5,700 Prepaid rent 380 Accounts payable $ 2,100 Accounts receivable 9,150 Accumulated depreciation equipment 6,600 Depreciation expense 2.200 Cash 21,955 Common stock 20,000 4 B 14 15 From the following information given below, calculate: (a) Deposits in transit (b) Outstanding checks. 68.678 Service Checks cleared in August charge 50 Bank credit memorandum: Balance, August 31 20,692 S18,400 Bank Balance, August 1 debit memorandum: 71.000 Safety August deposits deposit box fee Interest earned 45 A summary of the Cash account in the ledger for August shows the following: balance, August 1, 518,700; receipts $74.000; disbursements $73,570; and balance, August 31, $19,130 Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,800 and outstanding checks of $4,500. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was joumalized sind posted for $40