II. Two independent parts A. Dubai Jewelry reported the following items in its financial statements. Determine the amount of net income. Then calculate the ending balance for retained earnings. Sales Accounts receivables $450,000 $85,000 Cost of goods sold $158,000 Marketing expenses $35,000 Gain from sale of equipment $12,000 Salaries payables $11,500 Unearned revenues $35,000 Dividends $15,000 Administrative Expenses $60,000 Prepaid insurance $8,000 Beginning retained earnings $35,500 B. Indicate which financial statement would report the following information items. Your choices are as follows: I/S Income Statement. B/S = Balance Sheet Item Interest Expense Unearned Revenue Equipment Prepaid Insurance Sales Revenue Gain on sale of a fixed asset Salaries Expense Accumulated Depreciation Salaries Payable Bonds Payable Cost of goods sold Statement