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please help! thanks McCarthy Company was started on May 1 with an investment of $90,000 cash. Following are the assets, liabilities, and common stock of
please help! thanks McCarthy Company was started on May 1 with an investment of $90,000 cash. Following are the assets, liabilities, and common stock of the company on May 31,2022 , and the revenues and expenses for the month of May, its first month of operations. Accounts Receivable $8,400 Notes Payable $26,000 Service Revenue 47,500 Salaries and wages expense 4,950 Advertising expense 3,675 Equipment 46,750 Accounts payable 4,400 Maintenance and repairs expense 5,250 Cash 10,800 Insurance expense 1,050 Common stock 90,000 No additional common stock was issued in May, but a dividend of $5,000 in cash was paid. Instructions Prepare an income statement and a retained earnings statement for the month of May 2022
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