Problem 1

The following information pertains to Gable Company, effective at year-end September 30, 2013.

1. Prepare an income statement for the year ended September 30, 2013.

2. Prepare a retained earnings statement for the year ended September 30, 2013.

3. Prepare a classified balance sheet as of September 30, 2013.

Title Accounts Payable Accounts Receivable Accumulated Depreciation Contributed Capital Depreciation Expense Dividends Equipment Income Tax Expense Income Taxes Payable Interest Expense Interest Payable Long-term Note Payable Prepaid Rent Expense Rent Expense Retained Earnings (beginning) Sales Revenue Salaries Expense Balan Ce 2,400 4, 150 6, 600 21,955 20,000 2,200 2,800 23,050 1,100 300 350 175 5,700 380 760 13,960 14,450 6,840