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The account balances for Wholesome Food, Inc., for the year ended August 31, 2018, are presented below in random order: (Click the icon to view the account balances listing.) Net income for the year amounted to $65.000. Read the requirement Before we prepare the balance sheet, let's determine the ending balance in the Retained earnings accounts. Start by selecting the formula and then enter the amounts to calculate ending retained earnings. Beginning retained earnings + = Ending retained earnings = Prepare the classified balance sheet. Start by completing the asset portion of the statement and then complete the liabilities and stockholders' equity sections of the statement. Wholesome Food, Inc. Balance Sheet August 31, 2018 Assets Liabilities The account balances for Wholesome Food, Inc., for the year ended August 31, 2018, are presented below in random order. (Click the icon to view the account balances listing.) Net income for the year amounted to $65,000 Read the requirement. Wholesome Food, Inc. Balance Sheet August 31, 2018 Assets Liabilities | Total liabilities Stockholders' Equity Less The account balances for Wholesome Food, Inc., for the year ended August 31, 2018, are presented below in random order: (Click the icon to view the account balances listing.) Net Income for the year amounted to $65,000. Read the requirement Total liabilities Stockholders' Equity Less Less: Total stockholders' equity Total assets Total liabilities and stockholders' equity Data table Cash 25,900 $ 135,000 32,000 Equipment Accounts payable Cost of goods sold Accumulated depreciation, equipment 3,700 14,500 Common stock 55,000 Unearned revenues 3,100 50,000 Sales revenue 257,000 18,200 Accounts receivable 7,900 2,100 Accumulated depreciation, Long-term notes payable General expenses Salaries payable Supplies Building Estimated refund liability Prepaid rent 3,100 33,000 building Mortgage payable (long-term) 145,000 33,000 2,700 Dividends 58,000 3,500 Estimated inventory returns 2,900 800 Selling expenses 38,000 Interest expense Retained earnings 19,600 Inventory 3,400 Print Done