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A scrambled list of accounts are shown below. Unscramble them and produce a balance sheet and income statement. All accounts must be in the correct

A scrambled list of accounts are shown below. Unscramble them and produce a balance sheet and income
statement. All accounts must be in the correct order, and you must classify accounts as current or not (current assets and liabilities)
You must also change signs as needed.
Retained Earnings is left at $0.00, you are to calculate the amount needed to complete the balance sheet.
Prepaid Insurance 15,000
Returned parts 12,000
AR 25,000
Interest Expense 1,000
Retained Earnings 38,000
Parts Income 60,000
Depreciation Expense 3,000
Insurance Expense 1,000
Utility Expense 3,000
Cash 75,000
Long Term Debt 50,000
Accumulated Depreciation 20,000
Inventory 20,000
AP 22,000
General and Administration Expense 7,500
Common Stock 1,25,000
Equipment 1,00,000
Taxes 1,200
Notes Payable (less than 90 days) 20,000
Wage Expense 15,000

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