ABC Company has the following balances in their general ledger as of December 31, 2015.
Required: Present in good form (a) a single step income statement for the year, (b) a retained earnings statement for the year, and
(c) a classified balance sheet for December 31, 2015.
I have set up the statement titles for you below, so you can enter the statement information below the data that I have provided.
	Accounts payable	$11,000
	Accounts receivable	43,000
	Accumulated Depreciation-Equipment	10,000
	Common Stock	51,000
	Cash	40,000
	Depreciation Expense	2,000
	Dividends	10,000
	Equipment	85,000
	Insurance expense	1,000
	Land	10,000
	Prepaid insurance	6,000
	Rent expense	15,000
	Retained earnings, January 1, 2015	100,000
	Salary expense	30,000
	Service Revenue	70,000
	ABC Company
	Income Statement
	For the Year ended December 31, 2015
	ABC Company
	Retained Earnings Statement
	For the Year ended December 31, 2015
	ABC Company
	Balance Sheet
	December 31, 2015