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Prepare an income statement for the year ended december

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Question - These items are taken from the financial statements of Wildhorse Co. for 2017.

Retained earnings (beginning of year) $32,270

Utilities expense 2,170

Equipment 67,270

Accounts payable 19,570

Cash 13,930

Salaries and wages payable 5,720

Common stock 12,000

Dividends 12,000

Service revenue 69,580

Prepaid insurance 6,220

Maintenance and repairs expense 1,630

Depreciation expense 3,440

Accounts receivable 12,970

Insurance expense 2,360

Salaries and wages expense 38,580

Accumulated depreciation-equipment 21,430

Required - Prepare an income statement for the year ended December 31, 2017.

Reference no: EM132936135

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