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income statement,retained earning statement and balance sheet. please answer step by step with solution and not in excel sheets. Using the information below, prepare in

image text in transcribedincome statement,retained earning statement and balance sheet.

please answer step by step with solution and not in excel sheets.

Using the information below, prepare in good form the financial statements for the Radewicz, and Phillips Company for the year ended 12-31-19. SERVICE REVENUE $230,000 ADVERTISING EXPENSE $5,000 CASH 25,000 ACCOUNTS PAYABLE 12.000 RENT EXPENSE 13,000 DIVIDENDS 6,000 ACCOUNTS RECEIV. 22,000 NOTES PAY (due in 2 years) 18,000 COMMON STOCK 180.000 SALARIES EXPENSE 36,000 RETAINED EARN. (1-1) 14,000 MARKETABLE SECURITIES 11,000 LAND 92,000 BUILDINGS 200,000 INVENTORY 22,000 TAXES PAYABLE 8.000 ALLOW.BAD DEBTS (2.000) BAD DEBT EXPENSE 2,000 DEPRECIATION EXP. 4,000 PREFERRED STOCK 80,000 APIC 60,000 TREASURY STOCK _(6,000) COGS 100,000 ACCUMULATED DEPREC 20,000 INCOME STATEMENT RETAINED EARNINGS STATEMENT BALANCE SHEET

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