Question
Redbird Properties, Inc. gathered the following information regarding the asset, liability, stockholders equity, revenue, and expense accounts as of the end of its second year
Redbird Properties, Inc. gathered the following information regarding the asset, liability, stockholders equity, revenue, and expense accounts as of the end of its second year in operations, December 31
Rent Expense | $7,000 |
Building | 36,320 |
Depreciation Expense | 4,750 |
Cost of Goods Sold | 10,000 |
Accounts Receivable | 8,200 |
Note Payable (5 yr) | 11,000 |
Common Stock | 16,970 |
Cash | 19,500 |
Salary Expense | 4,400 |
Dividends | 10,200 |
Retained Earnings, Jan 1 2015 | 17,085 |
Accounts Payable | 11,800 |
Accumulated Depreciation (Building) | 6,500 |
Income Tax Expense | 6,585 |
Sales | 48,800 |
Prepaid Rent | 2,500 |
Inventory | 2,000 |
Interest Expense | 70 |
Prepare, in good form, a multiple step Income Statement, a Statement of Retained Earnings, and a classified balance sheet for Redbird Properties, Inc. for 2019. (You can receive part
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