The adjusted trial balance for Apachi Company is presented below.

Adjusted trial balance July 31, 2011

no account titles debits credits

101 cash 14,940

112 acct. receivable 8,880

157 equipment 16,000

167 accumilated depreciation 7,500

201 accounts payable 4,320

208 unearned rent revenue 1,900

311 common stock 20,000

320 retained earnings 25,300

332 dividends 16,100

404 commission revenue 65,100

429 rent revenue 6,600

711 depreciation expense 4,000

720 salaries expense 55,800

732 utilities expense 15,000

130,720 130,720

(a) prepare an income statement and a retained earnings statement for the year (list amounts from largest to smallest) If there is a net loss, use either a negative sign preceding the number, or parenthesis in income statement. Enter all other amounts as positive amounts and subtract where necessary.

Income statement for the year ended july 31, 2011

revenues

total revenues

expenses

total expenses

net loss

Retained earnings statement for the year ended july 31, 2011

Less

(b) Prepare a classified balance sheet at July 31. (list assets in order of liquidity and liabilities from largest to smalles. Enter all amounts as positive amounts and subtract where necessary)

Balance sheet July 31, 2011

current assets

total current assets

property, plant and equipment

less

total assets

Liabilities and stockholders equity

current liabilities

total current liabilities

stockholders equity

total stockholders equity

total liabilities and stockholders equity