+A (similar to) Question Help o Presented here are the amounts of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses of Eat Rite, Inc., at October 31, 2018. The items are listed in alphabetical order (Click the icon to view the amounts.) The retained earnings balance of the business was 595,100 at October 31, 2017 Rear the romane Requirement 1. Identity each amount shown as an asset blity or stockholders equity Accounts payable Liability Interest expense Stockholdersecuty Data Table Accounts payable Accounts receivable Advertising expense 21.000 Interest expense 22000 Land Note payable 170.000 Property tax expense 35.000 Rent expense 55.000 Salaries expense Common stock Done - FEELS GIGOLC Sines hown Advertising expense Building Cash Common stock Dividends Equipment Insurance expense 13,000 Nore payable 170,000 Property tax expense 16,000 Rent expense 55.000 Salaries expense 32,000 Salaries payable 40.000 Service revenue 1,000 Supplies DE000 2.500 20,000 80,000 10.000 187.000 1,600 sset ber 10 of 10 (10 complete) Requirements 1. Identify each amount shown as an asset, liability, or stockholders' equity. 2. Prepare the company's income statement and statement of retained earnings for the year ended October 31, 2018 3. Prepare the company's balance sheet at October 31, 2018 4. Answer these questions about the company a. What was the profit or loss for the year? b. What was the increase or decrease of retained earnings for the year? c. What is the amount of economic resources on October 31, 2018? d. What is the amount owed on October 31, 2018? Print Done the business was $95,100 at October 31, 2017 Read the requirements. Requirement 1. Identify each amount shown as an asset, liability, or stockholders' equity. Accounts payable Liability Interest expense Stockholders' equity Accounts receivable Asset Land Asset Advertising expense Stockholders' equity Note payable Liability Building Asset Property tax expense Stockholders equity Asset Cash Rent expense. Stockholders' equity Common stock Stockholders' equity Salaries expense Stockholders' equity Dividends Stockholders' equity Salaries payable Liability Choose from any list or enter any number in the input fields and then click Check Answer narts wted here are the amounts of Assets, Liabilities. Stockholders' equity, Revenues, and Expenses of Eat Rite, Inc., at October 31, 2018. The em are listed in alphabetical order Click the boon to view the amounts.) ned earnings balance of the business was 595.100 at October 31, 2017 Read the remonts Requirement 2. Prepare the company's income statement and statement of retained earnings for the year ended October 31, 2018 Begin by preparing the income statement. Start with the heading and then complete the rest of the statement. (If a box is not used in the statement, leave the box emply do not select betorante) Eat Rite, Inc Income Statement For the Year Ended October 31, 2016 Revenge Service Tevenue 5197.000 Expenses Choose from any list or enter any number in the input fields and then click Check Answer 10 of 10 (10 P1-34A (similar to) Presented here are the amounts of Assets, Liabilities, Stockholders' equity, Revenues, and Expens (Click the icon to view the amounts.) The retained earnings balance of the business was $95.100 at October 31, 2017. 80,000 Read the requirements Salaries expense Rent expense Advertising expense Interest expense Property tax expense 20.000 13.000 6.000 tes 2.500 Insurance expense 1,000 Total expenses 122.500 Net income S 84,500 Choose from any list or enter any number in the input fields and then click Check Answer 7 pants remaining Clear All 10 of 10 (10 complete) WP1-34A (similar to) Presented here are the amounts of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses of Eat (Click the icon to view the amounts.) The retained eamings balance of the business was $95,100 at October 31, 2017. Read the requirements. Now prepare the statement of retained earnings for Eat Rite, Inc., for the year ended October 31, 2018 Start with the heading and then complete the rest of the statement. Eat Rite, Inc. Statement of Retained Earnings For the Year Ended October 31, 2018 Add Choose from any list or enter any number in the input fields and then click Check Answer 7 parts remaining Clear All PT-4A (Similar to) Presented here are the amounts of Assets, Liabilities, Stockholders' equity, Revenues, and (Click the icon to view the amounts.) The retained earings balance of the business was $95,100 at October 31, 2017 Read the requirements. Eat Rite, Inc. Statement of Retained Earnings For the Year Ended October 31, 2018 urces Add: Subtotal Choose from any list or enter any number in the input fields and then click Check Answer 7 parts remaining CIE e to search