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Michael Company has just completed operations for the year ended December 31, 2022. This is the company's second year of operations. The following data
Michael Company has just completed operations for the year ended December 31, 2022. This is the company's second year of operations. The following data has been collected for the business: Accounts Payable Accounts receivable Accumulated depreciation. - Team Effective Joint actions Dividends declared $12 200 Office expenses $6,500 18,500 Rental costs 9,600 4,000 Wages payable 3,000 10,200 Retained Earnings, January 1, 2022 8,300 9,000 Salary expenses 40,000 5,000 Service revenue 84,000 15,000 Supply costs 6,200 4,000 Supplies 1,000 Insurance expenses Income tax Required: 4,500 Prepare the income statement, the statement of retained earnings and the balance sheet. Use an appropriate header.
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