Use the following information to prepare a multi

-step income statement

For dunkin for December 31, 2020.

Administrative Expenses -350,000

Cost of Goods Sold- 800,000

Sales- 1,400,000

Sales Returns & Allowances- 40,000

Selling Expenses- 600,000

Utilities Expense- 140,000

Use the information from above, and the following information to

prepare a retained earnings statement and classified balance sheet.

Cash- 372,000

Unearned Revenue- 55,000

Accounts Receivable- 90,000

Notes Payable(all ST)- 65,000

Common Stock- 44,000

Beginning Retained Earnings- 73,000

Prepaid Insurance- 19,000

Dividends- 34,000

Equipment- 125,000

Accumulated Depreciation- 20,000

Mortgage Payable (all LT)- 140,000

Accounts Payable- 160,000

Short Term Investments- 50,000

Salaries Payable- 50,000