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the cash is 15,000 not 3,000 Styles Q4. The assets and liabilities of D&B Inc. as of December 31, 2019 and revenues and expenses for
the cash is 15,000 not 3,000
Styles Q4. The assets and liabilities of D&B Inc. as of December 31, 2019 and revenues and expenses for the year ended on that date are listed here. Land Note payable Accounts receivable Supplies Property tax expense Equipment Accounts payable Interest payable Common shares 8,000 32,000 25,000 2,000 2,000 15,000 145,000 3,000 11,000 15,000 4,000 15,000 40,000 116,000 3,000 4,000 Salary expense Building Cash Rent expense Service revenue Utilities expense Interest expense Beginning retained earnings were $60,000, and dividends totalled $30,000 for the year. Requirements: 1. Prepare the income statement of D&B Inc. for the year ended December 31, 2019. 2. Prepare the company's statement of retained earnings for the year. 3. Prepare the company's balance sheet at December 31, 2019Step by Step Solution
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