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Is my financial statement done correctly? Peter's Pool Corporation Income Statement For the Month Ending July 31 Peter's Pool Corporation Statement of Retained Earnings For

Is my financial statement done correctly?

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Peter's Pool Corporation Income Statement For the Month Ending July 31 Peter's Pool Corporation Statement of Retained Earnings For the Month Ending July 31 Revenues: Pool Repair Revenue Total Revenue $ 8,900.00 $ 8,900.00 Retained Earnings, July 1 Add: Net Income 3,645 Subtotal Less : Dividends Retained Earnings, July 31 $2,545 Peter's Pool Corporation Expenses: Store Rent Expense Telephone Expense Insurance Expense Repair Supplies Exp. Depreciation Exp. Income Tax Expense Electric Expense Total Expenses 1,100 $ 3,600.00 $ 300.00 $ 400.00 $ 250.00 $ 160.00 95.00 500.00 $ 5,305.00 Balance Sheet July 31 $ $ Net Income $ 3,645.00 Assets: Cash Repair Supplies Prepaid Insurance Repair Equipment Less: Accum. Dep - Repair Equipment. Total Assets $37,700 450 4,400 7.800 (1601 $49.990 Liabilities and Stockholders' Equity Liabilities: Accounts Payable Income Taxes Payable Total Liabilities 7,350 95 7.445 Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 40,000 2,545 42,545 $49,990

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