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Problem II. LO2. The income statement and balance sheet columns of the financial statement worksheet of Anis Restaurant, for the year ended Dec 31, 2019
Problem II. LO2. The income statement and balance sheet columns of the financial statement worksheet of Anis Restaurant, for the year ended Dec 31, 2019 follows: (Total : 16 POINTS) Cr Income statement Balance sheet Dr Dr Cash 4.000 Accounts Receivable 8,000 Accounts Payable 9.300 Income taxes payable 1.875 Interest expense 500 Salaries and wages 6,500 Property and equipment 13.825 Accumulated depreciation 4.200 Common stock 15,725 Retained earnings 3.275 Income tax expense 750 Other expenses 7,200 Sales 23.000 Other income 500 14,950 23,500 25,825 34,375 a/ Prepare an income statement, a statement of retained earnings, and a balance sheet as of Dec 31, 2019 and for the year then ended. *Income statement (4.25 POINTS) *Prepare a statement of retained earnings (6 POINTS)
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