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From the accounts and balances on the adjusted trial balance of Lawson, Inc. at December 31, 2020, listed below, prepare in proper form a Statement
From the accounts and balances on the adjusted trial balance of Lawson, Inc. at December 31, 2020, listed below, prepare in proper form a Statement of Retained Earnings for the year ended December 31, 2020. Hint: You may need to calculate items that shoud appear on this statement. Ensure you show your work and label your numbers for all calculations. Accounts Payable Accounts Receivable A/D-Building Building Cash Common Stock Cost of Goods Sold Delivery Expense Deprec Exp-Building Dividends $ 20,000 $76,000 $ 5,500 $ 40,000 $ 51,000 $ 74,000 $ 27,000 $ 12,000 $ 9,000 $ 10,000 Interest Expense Interest Payable Notes Payable (5 years) Salaries and Wages Expense Prepaid Insurance Retained Earnings 1/1/20 Salaries payable Sales Revenue Supplies Unearned Revenue $3,000 3,500 $ 42,000 $ 38,500 $ 7,000 $ 10,000 $ 6,000 $ 110,000 $ 10,000 $ 8,000
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