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The Glenn Valley Company is a calendar year corporation. On December 31, 2020, the company had the following account balances. Prepare an Income statement and
The Glenn Valley Company is a calendar year corporation. On December 31, 2020, the company had the following account balances. Prepare an Income statement and a statement of retained earnings in good form. Note: The number of lines does not indicate how much information needed for each statement Cash Accounts payable Retained earnings 1/1/20 Service revenue Salary expense Equipment Accumulated depreciation 30,000 22,000 45,000 82,000 48,000 25,000 5,000 Rent expense Uneamed revenue Depreciation expense Dividend Interest Income Insurance expense Supplies expense 16,000 19,900 2,500 6,200 2,000 4,000 2.800 INCOME STATEMENT STATEMENT OF RETAINED EARNINGS
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