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These items are taken from the financial statements of Novak Corporation for 2022. Retained earnings (beginning of year) $33,570 Utilities expense 2,110 Equipment 68,570 Accounts
These items are taken from the financial statements of Novak Corporation for 2022. Retained earnings (beginning of year) $33,570 Utilities expense 2,110 Equipment 68,570 Accounts payable 22,410 Cash 13,640 Salaries and wages payable 6,780 Common stock 12,000 Dividends 12,000 Service revenue 72,160 Prepaid insurance 7,280 Maintenance and repairs expense 1,690 Depreciation expense 3,100 Accounts receivable 15,810 Insurance expense 2,700 Salaries and wages expense 41,160 Accumulated depreciation-equipment 21,140 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).) NOVAK CORPORATION Income Statement +9 $ Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) NOVAK CORPORATION Retained Earnings Statement $ Prepare a classified balance sheet as of December 31, 2022. (List Current Assets in order of liquidity) NOVAK CORPORATION Balance Sheet Assets $ Liabilities and Stockholders' Equity $ $ $ $
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