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Gould Corporation began operations on January 1, 2012. The following information is available for Gould Corporation on December 31, 2012
Accounts payable
$5,000
Notes payable
$7,000
Accounts receivable
2,000
Rent expense
10,000
Advertising expense
4,000
Retained earnings
?
Cash
3,100
Service revenue
25,000
Common stock
15,000
Supplies
1,900
Dividends
2,500
Supplies expense
1,700
Equipment
26,800
Prepare an income statement, a retained earnings statement, and a balance sheet for Gould Corporation.
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