Question
The accountant for Flagger Corporation prepared the following list of account balances from the company's records for the year ended December 31: US $ US
The accountant for Flagger Corporation prepared the following list of account balances from the company's records for the year ended December 31: US $ US $ Sales Revenue 165,000 Cash 30,000 Accounts Receivable 14,000 Selling Expenses 44,000 Equipment 42,000 Common Stock 17,000 Accounts Payable 12,000 Interest Income 3,000 Salaries Expense 40,000 Cost of Sales 51,000 Inventories 22,000 Prepaid Expenses 2,000 Income Taxes Payable 5,000 Income Tax Expenses 18,000 Notes Payable 20,000 Retained Earnings ??????? Required: Prepare the following Financial Statements: (a) Income Statement (b) Retained Earnings (Equity) Statement and a ('c) Balance Sheet for Flagger Corporation as at December 31, 2018.
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