ACG 2021 Sec 654-Petty Homework: Homework CH2 Score: 0 of 15 pts P2-34A (similar to) 7 of 8 (4 Income Statement 2. P for the mant (If a box is not used in the statement, leave the box empty, do not select a label or enfe Requirements 1: Prepare the income statement for the month ended July 31, 2018. 2. Prepare the statement of retained eamings for the month ended July 31 2018. The beginning balance of retained earnings was $0 3. Prepare the balance sheet as of July 31, 2018 4. Calculate the debt ratio as of July 31, 2018 Print |Done More Info Yardley contributed $62,000 cash to the business in exchange for common stock 5 Paid monthly rent on medical equipment, $610 9 Paid $22,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $1,100 19 Borrowed $30,000 from the bank for business use. 22 Paid $500 on account 28 The business received a bill for advertising in the daily newspaper to be paid in Jul. 1 August, $310 31 Revenues earned during the month included $6,300 cash and $5,800 account 31 Paid employees' salaries S2,900, office rent $800, and utilities $400. Record as a 31 The business received $1,190 for medical screening services to be performed 31 Paid cash dividends of $6 800 compound entry next month Print Done