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The following account balances are from the ledger of Sharpe Company at the end of the company's fiscal year end, December 31st, 2010. From this
The following account balances are from the ledger of Sharpe Company at the end of the company's fiscal year end, December 31st, 2010. From this information prepare an income statement, a statement of retained earnings, and a classified balance sheet in good form. Please put your answer on the empty pages provided. Accounts Payable Prepaid Rent Accumulated Depreciation Income Tax Expense Sales Revenue Interest Income Equipment Utilities Payable Cash Note Payable (due in 5 years) Accounts Receivable Cost of Goods Sold Salaries Payable Note Receivable Loss on the sale of equipment Beginning Retained Earnings (as of Dec 31, 2009) Supplies Insurance Expense Depreciation Expense Common Stock Land Dividends Declared Salary Expense Inventory Unearned Revenue 100 60 50 100 1400 75 200 80 120 200 80 800 120 200 25 75 40 140 50 200 100 150 110 175 50
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