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Studio Photography works weddings and prom-type parties. The balance of reained earnings wasPrepare the following financial statements for Studio Photography for the year ended December
Studio Photography works weddings and prom-type parties. The balance of reained earnings wasPrepare the following financial statements for Studio Photography for the year ended December $14,000 at December 31, 2017. At December 31. 2018. the business's accounting records show 31, 2018: these balances: a. Income statement. b. Statement of retained earnings. c. Balance sheet EEB (Click the icon to view the accounts.) a. Prepare Studio Photography's income statement. (If a box is not used in the table leave the box empty: do not select a label or enter a zero.) Net Income b. Prepare Studio Photography's statement of retained earnings Retained Earnings, December 31, 2017 Retained Earnings, December 31, 2018 c. Prepare Studio Photography's balance sheet. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Assets Liabilities Stockholders' Equity Data Table Insurance Expense Cash Accounts Payable Advertising Expense Service Revenue Dividends S 11,000 Accounts Receivable S 15,000 35,000 Notes Payable 16,000 9,000 Retai ined Earnings, Dec. 31, 2018 3,400 Salaries Expense 30,000 68,800 33,000 105,000 Equipment 14,000 Common Stock Print Done
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