Prepare a retained earnings statement for the year

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Reference no: EM13944725

These financial statement items are for Emjay Company at year-end, July 31, 2014.

Salaries and wages payable	$2,080	Notes payable (long-term)	$1,800
Salaries and wages expense	50,700	Cash	14,200
Utilities expense	22,600	Accounts receivable	9,180
Equipment	30,000	Accumulated depreciation-equip.	6,000
Accounts payable	4,100	Dividends	3,000
Service revenue	62,000	Depreciation expense	2,500
Rent revenue	8,500	Retained earnings (beginning of the year)	22,700
Common stock	25,000

Prepare an income statement for the year.

Prepare a Retained Earnings statement for the year.

Prepare a classified balance sheet at July 31.

Reference no: EM13944725

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