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how would I complete this income statement? B C D Given Information: G H 1 Enter the appropriate accountsames and numbers in the yellow boxes
how would I complete this income statement?
B C D Given Information: G H 1 Enter the appropriate accountsames and numbers in the yellow boxes WELLS MOBILE APPS AND ACCESSORIES Income Statement For Year Ended December 31, 2013 WELLS MOBLE APPS AND ACCESSORES Adjusted Trial Balance December 31, 2013 Revenues: 3 Sales 48,084 5,178 16.000 8.000 133.000 Less: Cost of goods sold Gross Profit other Expenses S 25,000 75,800 Cach Accounts receivable Prepaid insurance Merchandise inventory 1 Buildings 2 Acumulated depreciation-Buildings 3 Equipment 14 Accumulated depreciation Equipment 15 Accounts payable 16 Salaries payable 17 Uneamed fees 18 Common stock 19 Retained earnings 20 Dividends 21 Sales 22 Cost of goods sold 23 Depreciation expense-Building 24 Depreciation expense-Equipment 25 Salaries expense 26 Insurance expense 27 Supplies expense 28 Advertising expense 29 Utilities expense 30 Totals 15,000 39,500 8,600 12,500 111,000 80,000 Other expenses Net income 24,000 190,000 WELLS MOBILE APPS AND ACCESSORIES Statement of Retained Earnings For Year Ended December 31, 2013 38,000 13,300 7,560 52.000 890 23,958 9.830 6,000 461,600 S Retained earnings, December 31, 2012 Plus: Net income Total Less: Dividends Retained earnings, December 31, 2013 E 461,800 32Step by Step Solution
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