Hello, I'm currently having some trouble filling out a retained earnings statement and balance sheet for this assingment problem. I've attached instructions as well as needed information for context, and inserted my completed income statement. For the retained earnings statement, I have a bit of difficulty understanding how to calculate the values, while on gbe balance sheet I'm confused on calculating values for topics such as depreciation, total current assets, etc. The incorrect values are marked in red, and the items I need to fill start from picture #10-#14. thank you so much for your help, and have a good one!
Accumulated 4,500 900 5400 Depreciation Accounts Payable 3,350 3,350 Salaries Payable 2,000 2,000 Common Stock 20,000 20,000 Retained Earnings 52,200 52,200 Dividends 10,000 10,000 Fees Earned 279,000 279,000 Salary Expense 240,000 2000 242,000 Supplies Expense 1,650 1,650 Depreciation Expense 900 900 Miscellaneous Expense 2,000 2,000 359,050 359,050 4,550 4,550 361,950 361,950 Based on the preceding spreadsheet, prepare an income statement, retained eamings statement and balance sheet for Triton Consulting Be sure to read the instructions for each financial statement carefully CHART OF ACCOUNTS Triton Consulting General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies EXPENSES 14 Office Equipment 51 Salary Expense 15 Accumulated Depreciation 52 Supplies Expense 53 Depreciation Expense LIABILITIES 54 Miscellaneous Expense 21 Accounts Payable 22 Salaries Payable 14 Office Equipment 51 Salary Expense 15 Accumulated Depreciation 52 Supplies Expense 53 Depreciation Expense 54 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Salaries Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends 34 Income Summary Labels and Amount Descriptions Current assets Current liabilities Expenses For the Year Ended April 30, 2018 April 30, 2018 Property, plant, and equipment Revenues Amount Descriptions Change in retained earnings Dividends Net income Net loss Labels and Amount Descriptions Net loss Retained earnings, May 1, 2017 Retained earnings, April 30, 2018 Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders' equity Total property, plant, and equipment Total revenues Total stockholders' equity Score: Triton Consulting Income Statement For the Year Ended April 30, 2018 $279,0 1 Fees earned 2 Expenses: $242,000.00 900.00 4 3 Salary expense Depreciation expense Miscellaneous expense Supplies expense Total expenses 5 2,000.00 6 1,650.00 7 246,5 8 Net income $32,4 Triton Consulting Score: 68/68 Income Statement For the Year Ended April 30, 2018 Searned $279,000.00 enses: $242,000.00 lary expense preciation expense 900.00 scellaneous expense 2,000.00 pplies expense 1,650.00 ptal expenses 246,550.00 income $32,450.00 Retained Earnings Statement For the Year Ended April 30, 2018 1 Retained earnings $52,2 2. Net income $32,450.00 3 Dividends (10,000.00) 15,1 4 Change in retained earnings 5 Retained earnings, April 30, 2018 $75,4 Points 8.09 Retained Earnings Statement For the Year Ended April 30, 2018 ained earnings $52,200.00 income $32,450.00 dends (10,000.00) nge in retained earnings 15,140.00 ined earnings, April 30, 2018 $75,440.00 Points 8.09 / 11 Balance Sheet Shaded cells have feedback. Prepare a balance sheet as of April 30, 2018 for Triton Consulting. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons () or the word "Less on the balance sheet, they will automatically insert where necessary Score: 114/139 Triton Consulting Balance Sheet For the Year Ended April 30, 2018 Assets Current assets: Cash $21,500.00 Accounts receivable 51,150.00 Supplies 4,800.00 Total current assets $77,450.00 Property, plant, and equipment: Office equipment $32,000.00 Accumulated depreciation 10,800.00 Total property, plant, and equipment Total assets Liabilities Liabilities Current liabilities: $3,350.00 Accounts payable Salaries payable 2,000.00 Total liabilities $5,350.00 Stockholders' Equity Common stock $20,000.00 Retained earnings 52,200.00 Total stockholders' equity 72,200.00 Total liabilities and stockholders' equity $77,550.00