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The following account balances were included in the trial balance of Metlock Corporation at June 30, 2020. Sales revenue $1,588,850 Depreciation expense (office furniture and
The following account balances were included in the trial balance of Metlock Corporation at June 30, 2020.
Sales revenue | $1,588,850 | Depreciation expense (office furniture and equipment) | $7,509 | |||
Sales discounts | 31,500 | Property tax expense | 7,157 | |||
Cost of goods sold | 905,200 | Bad debt expense (selling) | 5,267 | |||
Salaries and wages expense (sales) | 57,360 | Maintenance and repairs expense (administration) | 9,263 | |||
Sales commissions | 99,490 | Office expense | 6,490 | |||
Travel expense (salespersons) | 33,800 | Sales returns and allowances | 59,921 | |||
Delivery expense | 22,030 | Dividends received | 37,150 | |||
Entertainment expense | 15,000 | Interest expense | 19,390 | |||
Telephone and Internet expense (sales) | 9,200 | Income tax expense | 99,790 | |||
Depreciation expense (sales equipment) | 4,659 | Depreciation understatement due to error2020 (net of tax) | 18,083 | |||
Maintenance and repairs expense (sales) | 5,870 | Dividends declared on preferred stock | 8,500 | |||
Miscellaneous selling expenses | 5,176 | Dividends declared on common stock | 37,570 | |||
Office supplies used | 3,606 | |||||
Telephone and Internet expense (administration) | 2,678 |
The Retained Earnings account had a balance of $338,360 at July 1, 2019. There are 87,330 shares of common stock outstanding.
I need the retained earnings statement, and retained earnings statement
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