These financial statement items are for Norsted Company at year-end, July 31, 2019.

Instructions
(a) Prepare an income statement and a retained earnings statement for the year.
(b) Prepare a classified balance sheet at July 31.

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Salaries and wages payable 2,080 Notes payable (long-term) Salaries and wages expense 51,700 Cash Utilities expense Equipment Accounts payable Service revenue Rent revenue Common stock $1,800 14,200 9,780 30.40) Aid deprxciation quipnt 600 3,000 4,000 8,500 Retained earnings (beginning of the year) 21,200 22,600 Accounts receivable 4,100 Dividends 62,000 Depreciation expense 30,000