Using the following information for ABC Co. to prepare a properly classified income statement, a statement of retained earnings, and a properly classified balanced sheet as of Dec. 31, xxxx.

(all the accounts below are in normal balance)

Accounts payable		$1,100
Accounts receivable		3,900
Building, car wash		39,400
Capital stock		40,000
Cash		800
Dividends		8,500
Equipment, car wash		85,000
Income tax expense		7,000
Miscellaneous expense		9,100
Notes payable-long-term		50,000
Retained earnings,1/1/xxxx		29,700
Service revenue, car wash		230,800
Supplies inventory		4,200
Utilities expense		109,400
Wages expense		84,300

1. Income Statement

Total revenues

Total expenses

Net income

2. Retained Earnings

Retained earnings,1/1/xxxx

Add: Net Income:

Less: Dividends

Retained earnings,12/31/xxxx

3. Balance Sheet

Total current assets

Total long-term assets

Total assets

Total current liabilities

Total long-term liabilities

Total liabilities

Common stock

Retained earnings, 12/31/xxxx

Total equity

Total Liabilities and Equity