Solution-Prepare an income statement for ramirez

Prepare an income statement for ramirez enterprises for the

Reference no: EM13966083

You are provided with the following information for Ramirez Enterprises, effective as of its April 30, 2014, year-end.

Accounts payable	884
Accounts receivable	999
Accumulated depreciation-equipment	670
Cash	1459
Common stock	1467
Cost of goods sold	1110
Depreciation expense	285
Dividends	375
Equipment	2609
Income tax expense	215
Income taxes payable	185
Insurance expense	260
Interest expense	450
Inventory	1156
Land	3289
Mortgage payable	3689
Notes payable	250
Prepaid insurance	110
Retained earnings (beginning)	1600
Salaries and wages expense	650
Salaries and wages payable	272
Sales revenue	5289
Stock investments (short-term)	1339

1. Prepare an income statement for Ramirez Enterprises for the year ended April 30, 2014.

2. Prepare a retained earnings statement for Ramirez Enterprises for the year ended April 30, 2014.

3. Prepare a classified balance sheet for Ramirez Enterprises as of April 30, 2014. (List current assets in order of liquidity.)

Reference no: EM13966083

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Prepare an income statement for ramirez enterprises for the

Reference no: EM13966083

Reference no: EM13966083

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