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4) The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2017, the end of the year, and its revenue and
4) The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2017, the end of the year, and its revenue and expenses for the year follow. The retained earnings were $416,800 on January 1 2017, the beginning of the year. During the year, dividends of $25,000 were paid. (20 points) Accounts Payable Cash Common Stock Fees Earned Accounts Receivable Misc. Expense $57,000 240,000 50,000 875,000 145,000 1,000 Land Supplies Supplies Expense Rent Expense Utilities Expense Wages Expense 430,000 15,000 5,800 48,000 39,000 450,000 Instructions: Prepare an Income Statement, Retained Earnings Statement, and Balance Sheet for 2017. Also, what statement or statements does Net Income appear on
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