Following are the amounts of the assets and liabilities of

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Following are the amounts of the assets and liabilities of St. Kitts Travel Agency at December 31, 2010, the end of the current year, and its revenue and expenses for the year. The capital stock was $10,000 and retained earnings was $35,000 on January 1, 2010, the beginning of the current year. During the current year, dividends of $7,500 were paid.

A) prepare an income statement for the current year ended December 31, 2010.

B) Prepare a retained earning statement for the current year ended December 31, 2010.

C) Prepare a balance sheet as of december 31, 2010.

Reference no: EM13480150

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