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The financial statement columns of the worksheet for Miracle Max at December 31, 2018, are as follows MIRACLE MAX Prepare a worksheet For the Year

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The financial statement columns of the worksheet for Miracle Max at December 31, 2018, are as follows MIRACLE MAX Prepare a worksheet For the Year Ended December 31, 2018 Income Statement Balance Sheet Accounts Dr. Cr. Dr. Cr. Cash 13,000 Accounts Receivable 7,000 Supplies 4,000 Prepaid Insurance 6,000 Equipment 207,000 Accumulated Depreciation-Equipment 29,000 Accounts Payable 19,008 Notes Payable 70,000 Salaries and Wages Payable 3,000 Common Stock 50,000 Retained Earnings 62.000 Dividends 18,000 Related tags OZUUU Dividends 18,000 Service Revenue 123,000 Advertising Expense Depreciation Expense 21,000 12.000 Insurance Expense 3,000 Rent Expense 17.000 Salaries and Wages Expense 42,000 Supplies Expense Totals 6,000 101.000 123,000 255,000 233,000 Net Income 22.000 22.000 123.000 123,000 255.000 255.000 Calculate the retained earnings balance that would appear on a balance sheet at December 31, 2018. (List items that increase retained earnings first.) MIRACLE MAX Retained Earnings Statement For the Year Ended December 31, 2018 Retained Earnings, January 1 62.000 Add Net Income /(Loss) 123,000 185000 Less Dividends 18.000 Retained Earnings, December 31 $ 167000 Prepare a classified balance sheet for Miracle Max at December 31, 2018 assuming the note payable is a long-term liability. (List current assets in order of liquidity) MIRACLE MAX Balance Sheet Assets $

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