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Assume the Earl Coffee Roasters Corp. ended the month of August 2019 with these data: (Click the icon to view the financial data.) Read the
Assume the Earl Coffee Roasters Corp. ended the month of August 2019 with these data: (Click the icon to view the financial data.) Read the requirement Prepare the income statement. Start with the heading and then complete the rest of the statement. (If a box is not used in the income statement leave the box empty, do not select a label or enter a zero.) Revenue Expenses: Net income (loss) Prepare the statement of retained earnings. Start with the heading and then complete the rest of the statement. (For accounts with a $0 balance, make sure to enter "0" in the appropriate cell. Include a subtotal after the "Add" line of the statement.) Data Table Add Subtotal Less Payments of cash Acquisition of equipment Dividends S 0 5.100 25,900 1,700 $ 206,500 Cash balance, August 1, 2019 2,300 Cash balance, August 31, 2019 Cash receipts: 0 Issuance (sale) of stock to owners Rent expense ? Common stock 6,000 Equipment Office supplies 1,300 Accounts payable. 78,400 Service revenue. Retained earnings August 1, 2019 Retained earnings August 31, 2019 Utilities expense... Adjustments to reconcile net income to net cash provided by operations Salary expense 25,900 206,500 7,500 8,800 272,800 Print Done
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