Complete the Income statement and statement of retained earnings from the completed trial balance. Additional Information:

-For the Statement of Retained Earnings, assume a beginning balance in the Retained Earnings account of $366,000. Also assume that $327,500 of dividends were declared.

-For the Classified Balance Sheet, assume that the company only has common stock and that the value of common stock at par value equals $65,500. Further assume that the value of paid-in-capital excess of par on the common stock has a value of $1,396,000.

-For the Statement of Cash Flow assume that the company purchased equipment with $150,000 cash. The company sold land and received $379,184 in cash. Also assume the following ending balances from the last financial period: Cash: $300,000; A/R: $785,000; Inventory: $130,000; Office Supplies: $3,000; A/P: $900,000. Additionally, the company paid cash dividends during the period of $327,500. Create the Statement of Cash Flow using the Indirect Method.

d Trial Ba usted Tial Balan ria Adjust Balance sheet Balance Dr 372,840 Account T Cr 72,840 ceivable eivable 79 2,675 for Doubtful 10,000 17 19,817 Inventory 133,030 122,22 se Invento 10 ce Supplies 3,200 epaid Insrance 1 Land Building 500 2,000,600 500,000 2, 0,000 1,500,0 Accumulated Depreciation - Building 10,000 Equipment & Furniture 10,000 Warehouse 1,900 50 2,050 Accumulated Depreciation - Equip & Furn. - Warehouse Equipment & Furniture-8,500 Office Accumulated 600 83 1,683