Financial Statement Preparation

Cash 6,500 Taxes Payable 2,300

Accounts Receivable 5,500 Cost of Sales 76,000

Inventory 55,000 Sales 184,300

Utilities Expense 3,500 Equipment (Net) 5,700

Salaries Expense 26,300 Building (Net) 31,700

Accounts Payable 6,200 Dividends 2,000

Retained Earnings (Beg Bal) 8,000 Supplies 1,700

Common Stock 20,100 Interest Expense 4,000

Notes Pay (2 Yr) 3,000 Supplies Expense 6,000

Use the attached spreadsheet to prepare the financial statements.

Income Statement For the Period Ending Statement of Retained Earnings For the Period Ending Revenue XXX Beg Balance XXX XXX Expenses XXX XXX XXX XXX Total Operating Expenses Ending Balance Income from Operations Other Expenses XXX Areas in Gray require data entry Net Income Balance Sheet 30-Sep Assets Current Assets XXX XXX XXX XXX Total Current Assets Long Term Assets XXX XXX Total Long Term Assets Total Assets Liabilities Current Liabilities XXX XXX Total Current Liabilities Long Term Liabilities XXX Total Liabilities Equity XXX XXX Total Stockholder's Equity Total Liabilities and Stockholder's Equity