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XYZ Corporation began operations on January 1, 2019. The following information is available for XYZ Corporation on December 31, 2019. Accounts receivable 1,800 Common stock
XYZ Corporation began operations on January 1, 2019. The following information is available for XYZ Corporation on December 31, 2019.
Accounts receivable | 1,800 | Common stock | 10,000 | Supplies | 4,000 |
Accounts payable | 2,000 | Retained earnings | ? | Supplies expense | 200 |
Rental expense | 9,000 | Equipment | 16,000 | Cash | 1,400 |
Notes payable | 5,000 | Insurance expense | 1,000 | Dividends | 600 |
Service revenue | 17,000 |
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Instructions
Prepare an (1) income statement, (2) a retained earnings statement, and (3) a balance sheet using this information.
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