Reference no: EM13749911

Prepare a well labeled and classified balance sheet and income statement and statement of retained earnings for The Montana Pasta company as Dec 31, 2011 and the year ended Dec 31, 2011. Give the list of accounts and thier respective balances below you obtained from the general ledger.

pasta revenue 1250000

retained earnings, january 100000

cash 100000

notes payable due january 31,2012 50000

rent expense 20000

interest income 10000

income tax expense 50000

accounts payable 85000

accounts receivable 28000

advertising expenses 25000

cost of goods sold expense 500000

general and administrative expense 50000

contributed capital 100000

dividends declared and paid 10000

pasta inventories 250000

land 87000

notes payable due january 31,2013 200000

other long-term assets 100000

unearned revenue- short -term 50000

interest expense 25000

other expenses 100000

factory buildings 500000