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Prepare Income Statement, Retained Earnings Statement, and Balance Sheet. PLEASE I NEED THE ANSWER ASAP!!! THANK YOU IN ADVANCE** The following information relates to Ashton

Prepare Income Statement, Retained Earnings Statement, and Balance Sheet.

PLEASE I NEED THE ANSWER ASAP!!! THANK YOU IN ADVANCE**

The following information relates to Ashton Appliances for the current year.

Accounts payable $16,800 Income taxes expense $16,650
Accounts receivable 69,900 Income taxes payable 12,000
Accumulated depreciation (building) 104,800 Insurance expense 36,610
Accumulated depreciation (furniture) 27,600 Interest expense 15,500
Bonds payable (due in 7 years) 192,000 Inventory 59,850
Building 300,000 Other assets 92,800
Cash 41,450 Rent expense (store equipment) 80,800
Common stock 243,610 Retained earnings, January 1 54,000
Cost of goods sold 511,350 Salaries expense 228,710
Depreciation expense (building) 11,050 Salaries payable 7,190
Depreciation expense (furniture) 12,000 Sales revenue 948,670
Furniture 130,000

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