operating activity

Exercise 1-3 Use the following accounts and information to prepare, in good form, an income statement and a retained earnings statement, for the month of August and a balance sheet at August 31, 2017 for Pierce Industries. Accounts payable Accounts receivable Buildings Cash Service revenue Common stock 1,100 5,400 63,000 18,600 25,700 52,000 25,900 Dividends Insurance expense Supplies Notes payable Rent expense Salaries and wages expense $ 3,000 1,200 1,400 3,300 3,400 12,000 Retained earnings (beginning)