a) As of December 31, 2018, Armani Companys financial records show the following items and amounts.

Cash		$	11,600
Accounts receivable			10,600
Supplies			7,600
Equipment			6,600
Accounts payable			16,300
Common stock			12,500
Retained earnings, Dec. 31, 2017			5,600
Retained earnings, Dec. 31, 2018			7,600
Dividends			14,600
Consulting revenue			36,200
Rental revenue			25,200
Salaries expense			21,600
Rent expense			13,600
Selling and administrative expenses			9,600

Problem 1-3A Preparing an income statement LO P2

Required:

Prepare the 2018 year-end income statement for Armani Company.

As of December 31, 2018, Armani Companys financial records show the following items and amounts.

b)

Cash		$	10,500
Accounts receivable			9,500
Supplies			6,500
Equipment			5,500
Accounts payable			10,500
Common stock			15,000
Retained earnings, Dec. 31, 2017			4,500
Retained earnings, Dec. 31, 2018			6,500
Dividends			13,500
Consulting revenue			34,000
Rental revenue			23,000
Salaries expense			20,500
Rent expense			12,500
Selling and administrative expenses			8,500

Problem 1-4A Preparing a statement of retained earnings LO P2

Required:

Prepare a year-end statement of retained earnings for Armani Company.