Amounts ($) List of Accounts Accounts payable Accounts receivable Accumulated depreciation - equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Income tax expense Income tax payable Insurance expense Interest expense Inventory Land Mortgage payable Notes payable Prepaid insurance Retained earnings (beginning) Salaries and wages expense Salaries and wages payable Sales revenue Stock investments (short-term) 834 810 670 1270 900 1060 335 325 2420 165 135 210 400 967 3100 3500 61 60 1600 700 222 5100 1200 (1) Prepare an Income Statement and Statement of Retained Earnings (2) Prepare a Balance Sheet