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Preparation and Interpretation of Financial Statements P8.Sears Labs financial accounts follow. The company has just completed its third year of operations ended November 30, 2014

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Preparation and Interpretation of Financial Statements P8.Sears Labs financial accounts follow. The company has just completed its third year of operations ended November 30, 2014 Accounts Payable $ 7400Marketing Expense 9,100Office Rent Expense 15,750 Retained Eamings, November 30,2013 $19,700 Accounts Recelvable 18,200 Cash Common Stock 55,A00 15,000 248,000 Salarles Expense 40,000Salaries Payable 38,850 Supplies 13,000 Supplies Expense Design Service Revenue 96,000 Dividends 2,700 Income Taxes Expense 800 Income Taxes Payable 3,100 REQUIRED 1. Prepare Sears Labs' income statement, statement of retained carnings, and balance shect

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