These financial statement items are for Cullumber Company at year-end, July 31, 2022. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2025) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $3,900 59,100 16,800 17.000 4,100 67,700 9,700 3,300 16,000 35.100 11,300 7,600 4,000 4,000 35,000 CULLUMBER COMPANY Income Statement For the Year Ended July 31, 2022 Revenues Service Revenue 67700 Rent Revenue 9700 Total Revenues 77400 Expenses Salaries and Wages Expense 59100 Supplies Expense 16800 Depreciation Expense 40001 Total Expenses 79900 Net Income /(Loss) 2500 ACE De (a2) Your answer is correct. Prepare a retained earnings statement for the year. Cullumber Company did not issue any new stock during the year. CULLUMBER COMPANY Retained Earnings Statement For the Year Ended July 31, 2022 Retained Earnings, August 1, 2021 35000 Less : Net Income /(Loss) (2500) i o Less Dividends 4000 AG Dr 6500 i o Retained Earnings, July 31, 2022 28500 Art Or Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity) CULLUMBER COMPANY Balance Sheet Assets $ Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity A AL D $ V V Ac Ao Dr Qu A bro Qu Aca Dro $