A company provides the following account balances at year end (except for Retained Earnings, which is the beginning balance). The CFO has asked you to use this information to prepare an income statement and balance sheet. Expenses: Liabilities: Dividends: Advertising expense Insurance expense Salaries expense Rent expense Salaries payable Notes payable Dividends $15,000 24,000 68,000 8,000 12,000 30,000 7,000 Assets: Revenues: Equity: Required: 1. Use the information provided to complete the income statement. 2. Use the information provided to complete the balance sheet. 3. Use a conditional statement to evaluate whether the accounting equation balances. Cashi Accounts receivable Supplies Land Service revenue Interest revenue Common stock Retained earnings $32,000 29,000 16,000 75,000 134,000 9,000 62,000 27,000

A company provides the following account balances at year end (except for Retained Earnings, which is the beginning balance). The CFO has asked you to use this information to prepare an income statement and balance sheet. Required: 1. Use the intormation provided to complete the income statement. 2. Use the information provided to complete the balance sheet. 3. Use a conditional statement to evaluate whether the accounting equation bafances. A company provides the following account balances at year end (except for Retained Earnings, which is the beginning balance). The CFO has asked you to use this information to prepare an income statement and balance sheet. Required: 1. Use the intormation provided to complete the income statement. 2. Use the information provided to complete the balance sheet. 3. Use a conditional statement to evaluate whether the accounting equation bafances