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Wildhorse Co., a provider of consulting services, was founded on October 1, 2022. At the end of the first month of operations, the company decided

Wildhorse Co., a provider of consulting services, was founded on October 1, 2022. At the end of the first month of operations, the company decided to prepare an income statement, retained earnings statement, and balance sheet using the following information.

Accounts payable

$ 3,696

Supplies

$2,752

Interest expense

456

Supplies expense

432

Equipment (net)

53,984

Depreciation expense

296

Salaries and wages expense

2,800

Service revenue

23,424

Bonds payable

24,080

Salaries and wages payable

500

Unearned service revenue

4,548

Common stock

10,192

Accounts receivable

1,456

Interest payable

160

Cash

4,424

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