The following selected accounts and their current balances appear in the ledger of Prescott Inc. for the fiscal year ended September 30, 20Y8:

Cash		$ 167,000		Retained Earnings		$ 507,600
Accounts Receivable		300,000		Dividends		250,000
Inventory		735,000		Sales		7,134,000
Estimated Returns Inventory		25,000		Cost of Goods Sold		4,350,000
Office Supplies		30,000		Sales Salaries Expense		777,600
Prepaid Insurance		24,000		Advertising Expense		91,800
Office Equipment		230,400		Depreciation Expense Store Equipment		16,600
Accumulated Depreciation Office Equipment		99,000		Miscellaneous Selling Expense		4,000
Store Equipment		1,023,000		Office Salaries Expense		154,800
Accumulated Depreciation Store Equipment		373,400		Rent Expense		79,800
Accounts Payable		67,000		Insurance Expense		45,900
Customer Refunds Payable		30,200		Depreciation Expense Office Equipment		32,400
Salaries Payable		19,200		Office Supplies Expense		3,300
Note Payable (final payment due in five years)		108,000		Miscellaneous Administrative Expense		3,800
Common Stock		30,000		Interest Expense		24,000

Prepare a single step income statement and a statement of stockholders equity

Income statement layout

Revenue

Sales:

Expenses

Cost of Goods Sold:

Selling Expenses:

Administrative Expenses:

Interest Expenses:

Total Expenses:

Net Income: