Question 1

This information relates to Swifty Corporation for the year 2017.

Retained earnings, January 1, 2017		$69,680
Advertising expense		1,872
Dividends		6,240
Rent expense		10,816
Service revenue		60,320
Utilities expense		2,496
Salaries and wages expense		31,200

After analyzing the data, prepare an income statement for the year ending December 31, 2017.

Swifty Corporation Income Statement choose the accounting period For the Year Ended December 31, 2017For the Month Ended December 31, 2017December 31, 2017
select an opening name for section one DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
enter an income statement item		$enter a dollar amount
select an opening name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
enter an income statement item	$enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
select a closing name for section two Dividends Expenses Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues		enter a total of the four previous amounts
select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues		$enter a total net income or loss amount

SHOW LIST OF ACCOUNTS

After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List items that increase retained earnings first.)

Swifty Corporation Retained Earnings Statement choose the accounting period For the Month Ended December 31, 2017For the Year Ended December 31, 2017December 31, 2017
select an opening name DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues	$enter a dollar amount
select between addition and deduction AddLess : select an item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues	enter a dollar amount
	enter a subtotal of the two previous amounts
select between addition and deduction AddLess : select an item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues	enter a dollar amount
select a closing name DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues	$enter a total amount

Click if you would like to Show Work for this question:

Open Sho