The following items and amounts were taken from Motte Inc.€™s 2014 income statement and balance sheet.

Instructions
(a) In each, case, identify on the blank line whether the item is an asset (A), liability (L), stockholder€™s equity (SE), revenue (R), or expense (E) item.
(b) Prepare an income statement for Motte Inc. for the year ended December 31,2014.

Transcribed Image Text:

84,700 123,192 438,458 115,131 7,818 64,618 Accounts receivable Sales revenue 88,419 584,951 6,499 49,384 4,806 1,882 _Cash ned earnings Retai Cost of goods sold Salaries and wages expense Prepaid insurance Inventory Notes payable Accounts payable Service revenue Interest expense