Tiffany€™s provides financial services related to investment selections, retirement planning, and general insurance needs. For the current year, the company reports the following amounts:

In addition, the company had common stock of $60,000 at the beginning of the year and issued an additional $15,000 during the year. The company also had retained earnings of $20,000 at the beginning of the year and paid dividends of $3,500.

Required:
Prepare the income statement, statement of stockholders€™ equity, and balance sheet forTiffany€™s.

Transcribed Image Text:

Advertising Expense Buildings Salaries Expense Accounts Payable Cash S 31,200 108,000 67,800 6,300 6.400 Service Revenue Interest Expense Utilities Expense Equipment Notes Payable S129.300 3,500 14,500 25,700 30,000