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6. The following items are taken from the financial statements of La Brea Ltd. For the fiscal year ended December 31, 2022. Note they are
6. The following items are taken from the financial statements of La Brea Ltd. For the fiscal year ended December 31, 2022. Note they are in alphabetical order. Accounts payable.. $ 15,500 Accounts receivable.. 18,000 Accumulated depreciationbuildings. 30,500 Advertising expense. 21,000 Cash.. 15,000 Common shares (10.000 shares). 90,000 Depreciation expense. 12,000 Dividends declared. 5,000 Income tax expense.. 10,000 Insurance expense. 3,000 70,000 Bank loan payable. Prepaid insurance. 6,000 Rent expense. 22,000 Retained earnings, January 1, 2022 12,000 32,000 Salaries expense. Salaries payable. Service revenue. 3,000 143,000 Supplies.. 4,000 Supplies expense. 6,000 Buildings.. 210,000 Prepare an Income Statement and a classified statement of financial position for La Brea Ltd. At December 31, 2022, assuming the bank loan payable is a non-current liability
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