These items are taken from the financial statements of
Beginning Retained Earnings	$31,000
Utilities	$2,000
Equipment	$66,000
Accounts Payable	$18,300
Cash	$10,100
Salary & Wages Payable	$3,000
Common Stock	$40,000
Dividends	$8,000
Service Revenue	$64,000
Pre-Paid Insurance	$3,500
Patent	$14,000
Maintenance and Repairs Expense	$1,800
Long-Term Debt	$17,000
Depreciation Expense	$3,600
Accounts Receivable	$11,700
Insurance Expense	$2,200
Salary & Wages Expense	$37,000
Accumulated Depreciation - Equipment	$17,600
Unearned Revenue	$3,200
Copyright	$5,000
Investment in ABC Corporation	$9,900
Land Held for Investment	$19,300
REQUIRED:
1) Label the account titles as asset, liability, equity, revenue or expense.
2) Prepare an income statement dated 12/31 of the prior year.
3) Prepare a retained earnings statement.
4) Prepare a Classified Balance Sheet.
5) Calculate the following ratios:
a) Earnings per share (assume there is no preferred stock dividends
and 15,000 average common shares outstanding)
b) Working Capital
c) Current Ratio
d) Debt to Total Assets