Prepare a retained earnings statement for the year ending

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Reference no: EM13899900

After its second year of operations, the following amounts were taken from the accounting records of Lisko Services, Inc., as of December 31, 2008. Lisko Services began its operations on January 1, 2007.

Capital stock	$ 35,000
Cash	?
Dividends	21,000
Fees earned	355,740
Interest expense	2,240
Land	196,000
Miscellaneous expense	9,800
Notes payable	28,000
Rent expense	39,200
Salaries expense	98,000
Taxes expense	28,000
Utilities expense	50,400

Instructions

1. Prepare an income statement for the year ending December 31, 2008.

2. Prepare a retained earnings statement for the year ending December 31, 2008.

3. Prepare a balance sheet as of December 31, 2008.

4. Prepare a statement of cash flows for the year ending December 31, 2008.

Reference no: EM13899900

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