These items are taken from the financial statements of Ivanhoe Company for 2022.

Retained earnings (beginning of year)		$33,800
Utilities expense		2,160
Equipment		66,300
Accounts payable		20,560
Cash		13,750
Salaries and wages payable		6,640
Common stock		21,800
Dividends		12,000
Supplies		3,600
Debt investment (long-term)		5,600
Trademarks		1,900
Service revenue		71,700
Prepaid insurance		7,140
Maintenance and repairs expense		1,640
Depreciation expense		3,270
Accounts receivable		15,160
Insurance expense		2,530
Salaries and wages expense		40,700
Accumulated depreciationequipment		21,250

(a1)

	Your answer is correct.

Prepare an income statement for the year ended December 31, 2022. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

IVANHOE COMPANY Income Statement choose the accounting period For the Month Ended December 31, 2022December 31, 2022For the Year Ended December 31, 2022
select an opening name for section one Revenues
enter an income statement item Service Revenue		$enter a dollar amount 71700
select an opening name for section two Expenses
enter an income statement item Utilities Expense	$enter a dollar amount 2160
enter an income statement item Maintenence and Repairs Expense	enter a dollar amount 1640
enter an income statement item DepreciationExpense	enter a dollar amount 3270
enter an income statement item Insurance Expense	enter a dollar amount 2530
enter an income statement item Salaries and Wages Expense	enter a dollar amount 40700
select a closing name for section two Total Expenses		enter a total of the five previous amounts 50300
select a closing name for this statement Net Income		$enter a total net income or loss amount 21400

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*******First Part has been answered

(a2)

Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.)

IVANHOE COMPANY Retained Earnings Statement choose the accounting period For the Year Ended December 31, 2022December 31, 2022For the Month Ended December 31, 2022
select an opening name DividendsExpensesNet Income / (Loss)Retained Earnings, January 1, 2022Retained Earnings, December 31, 2022RevenuesTotal ExpensesTotal Revenues	$enter a dollar amount
select between addition and deduction AddLess : select an item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1, 2022Retained Earnings, December 31, 2022RevenuesTotal ExpensesTotal Revenues	enter a dollar amount
	enter a subtotal of the two previous amounts
select between addition and deduction AddLess : select an item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1, 2022Retained Earnings, December 31, 2022RevenuesTotal ExpensesTotal Revenues	enter a dollar amount
select a closing name DividendsExpensesNet Income / (Loss)Retained Earnings, January 1, 2022Retained Earnings, December 31, 2022RevenuesTotal ExpensesTotal Revenues	$enter a total amount