Annual Report Chapter $3$

Hooker Furnishings Corporation

Answer the following questions by typing your anower below each quevtions

Aooording to the adjusting ontry acorual deforfal chart, which of the four categorics would cach of these accounts be classified?

a$.$ Acorued salaries, Mages and benefits.

b$.$ Prepaid exponses

c$.$ Acoumulated depreciation

d$.$ Customer deposits

e$.$ Deferred compensation

Is accumulated depreciation shown on the balance sheet, the footnotes, or both?

Give the amount of the accumulated depreciation and state what type of account it is$.$

Looking at the Statements of Shareholders' Equity, what was the change to retained earnings for each of the last two years? What two items made up this amount? How much was each item?