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I need an Income statement, statement of retained earnings, and a balance sheet 8,000 Below is information on XYZ Company for December 31, 2018. Prepare
I need an Income statement, statement of retained earnings, and a balance sheet
8,000 Below is information on XYZ Company for December 31, 2018. Prepare a multi-step income statement for the period. Cash. 382,000 Accounts Receivable 207.000 Marketable Securities. 54,600 Prepaid rent. .16,000 Office supplies. 11,000 Equipment 200,000 Accumulated depreciation: equipment. .155,000 Land. 190,000 Accounts payable. 34,000 Dividends payable 30,000 Interest payable Income tax payable. 15,000 Unearned client service revenue. 51,000 Notes payable. 227,000 Common stock 250,000 Retained earnings (beginning Balance 1/1/2018)...224,000 Dividends Declared .45,000 Sales $220,000 Cost of goods sold $52,800 Interest revenue ..$1,500 Interest expense $5,200 Income tax expense $ 300 Selling expenses Sales salaries and commissions. $18,000 Insurance expense $5,600 Advertising expense. $8,500 Depreciation expense: equipment $600 Delivery expense. $700 General and administrative expenses: Executive and administrative salaries.. $12,700 Utilities expense $4,200 Rental expense ..$800 Utilities expense $500 Page 1 of 2 144 words Focus Step by Step Solution
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