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Exercise 3-8 Preparing Financial Statements from a Trial Balance LO P6 Following are the accounts and balances (in random order) from the adjusted trial
Exercise 3-8 Preparing Financial Statements from a Trial Balance LO P6 Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company. Notes payable Prepaid insurance $ 15,000 2,900 Accumulated depreciation-Buildings ip Accounts receivable $ 19,000 4,800 Interest expense Accounts payable 580 3,500 Utilities expense 1,700 Interest payable Wages payable 800 Unearned revenue 260 1,000 Cash 18,000 Supplies expense 280 Wages expense 7,900 Buildings 80,000 Insurance expense 2,200 Dividends 5,000 Common stock 13,200 Depreciation expense-Buildings 4,000 Retained earnings 35,600 Supplies 1,000 Services revenue 40,000 Prepare the (1) income statement and (2) statement of retained earnings for the year ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $35,600 on December 31 of the prior year. Complete this question by entering your answers in the tabs below.
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