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

Cash		$208,750		Retained Earnings		$ 634,500
Accounts Receivable		375,000		Dividends		312,500
Inventory		950,000		Sales		8,917,500
Estimated Returns Inventory		87,500		Cost of Goods Sold		5,437,500
Office Supplies		37,500		Sales Salaries Expense		972,000
Prepaid Insurance		30,000		Advertising Expense		114,750
Office Equipment		288,000		Depreciation Expense Store Equipment		20,750
Accumulated Depreciation Office Equipment		123,750		Miscellaneous Selling Expense		5,000
Store Equipment		1,278,750		Office Salaries Expense		193,500
Accumulated Depreciation Store Equipment		466,750		Rent Expense		99,750
Accounts Payable		121,500		Insurance Expense		57,375
Customer Refunds Payable		87,500		Depreciation Expense Office Equipment		40,500
Salaries Payable		24,000		Office Supplies Expense		4,124
Note Payable (final payment due in five years)		135,000		Miscellaneous Administrative		4,750
Common Stock		37,500		Interest Expense		30,000

Construct a SINGLE step income statement and a statement of stockholders equity

INCOME STATEMENT LAYOUT

Revenue

______________ $_________

Expenses:

______________ $_________

______________ $_________

______________ $_________

______________ $_________

Total Expenses:

STATEMENT OF STOCKHOLDERS LAYOUT

Common Stock Retained Earnings Total

_____________ $_____________

_____________ $_____________

_____________ $_____________

_____________ $_____________