The following information relates to Karen Weigel Co. Ltd. for the year 2017.
Retained earnings, January 1, 2017..........£48,000.........Advertising expense.............£ 1,800
Dividends during 2017...........................5,000..................Rent expense..............10,400
Service revenue...................................62,500..............Utilities expense...............3,100
Salaries and wages expense.....................28,000 Other comprehensive income...............400
Instructions
After analyzing the data, prepare
(a) An income statement,
(b) A comprehensive income statement, and
(c) A retained earnings statement for the year ending December 31, 2017