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1. Prepare Honeyglazed Hams, nc.'s income statement and statement of retained e Honey glazed Hams, Inc. Income Statement For the Year Ended December 3 2012 ousands) Revenues Sales revenue 40,900 Expenses Cost of goods sold 25,000 Selling, administrative, and general expense 10.300 35.300 Total expenses Income before tax 5.600 2.100 Income tax expense 3,500 Net income Prepare the Honeyglazed Hams, Inc. statement of retained earnings for the year ended Dec Honey glazed Harms, Inc. Statement of Retained Earnings For the Year Ended December 31, 2012 Thousands) Add Less Honey glazed Hams, Inc. Adjusted Trial Balance December 31, 2012 (Amounts in thousands) Account Cash Accounts receivable Inventories Prepaid expenses Property, plant and equipment Accumulated depreciation Other assets Accounts payable Income tax payable Other liabilities Common stock Retained earnings (beginning, December 31, 2011) Divdends Sales revenue Cost of goods sold Selling, administrative, and general expense Income tax expense Adjusted Trial Balance Debit Credit 3,700 1.700 1,600 1,600 6,800 2.800 9,500 7,900 500 2,400 4,600 4,700 1.500 40,900 25,000 10.300 2.100 63,800 63,800