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Required information. [The following information applies to the questions displayed below.] Stark company has the following adjusted accounts with normal balances at its December
Required information. [The following information applies to the questions displayed below.] Stark company has the following adjusted accounts with normal balances at its December 31 year-end. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash $ 17,000 Accumulated depreciation-Buildings 3,100 Accounts receivable 620 Utilities expense 4,500 Interest payable. 1,000 Unearned revenue 22,000 Supplies expense $ 21,000 5,200 1,900 340 1,100 320 Wages expense 8,100 Buildings 100,000 Insurance expense 2,400 Dividends 6,000 Common stock 16,000 Depreciation expense-Buildings 5,000 Services revenue 50,000 Supplies 1,100 Retained earnings 44,800 Use the adjusted accounts for Stark Company to prepare the (1) income statement and (2) statement of retained earnings for the year ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $44,800 on December 31 of the prior year.
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