7 Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Balances $ 4,300 1,650 2,300 4,250 1,000 12,700 8,200 4,900 Required: Use only the appropriate accounts to prepare an income statement. Answer is complete but not entirely correct. COWBOY LAW FIRM Income Statement 8,200 4,250 X For the Period Ended December 31 Service revenue $ Retained earnings $ Expenses: Salaries expense 1,650 Utilities expense 1,000 Supplies X 12,700 X Common stock X 4,900 Total expenses Net loss $ 20,250 7,800 9 Wolfpack Construction has the following account balances at the end of the year Account Tiquipment Accounts payable Balerience Common stock Land Hotes payable Service Tove Cash Metained earning balances $18,500 1,500 25,500 10.000 10,500 12.500 31,500 4,500 2 Required: Use only the appropriate accounts to prepare a balance sheet. Answer is complete but not entirely correct. WOLFPACK CONSTRUCTION Balance Sheet December 31 Liabilities $4,500 Accounts payable 10.500 No es payable 10.500 Assets 1,500 00 SO Land 14,000 Dockholders Fung Commons 000 10,000