Reference no: EM131914540

Problem - The following accounts were taken from the records of Beta Co. on the year end (December 31, 2010) after adjusting entries being recorded and posted; all accounts have normal balances:

Account payables - $ 5,200

Account receivables - 6,400

Cost of goods sold - 8,300

Capital stock - 18,700

Cash - 5,400

Sales Revenue - 24,800

Land - 15,000

Salaries expense - 4,300

Salaries payable - 1,400

Interest expense - 1,980

Utilities expense - 720

Investment (long-term) in ZYX, Inc shares - 5,700

Depreciation Expense-Equipment - 2,400

Sales Discounts - 1,000

Accumulated Depreciation-Equipment - 3,600

Inventory - 8,000

Bonds Payable - 16,500

Retained Earnings - 2,500

Dividends - ?

Equipment - ?

Additional information:

Total assets (end of the year) - 48,900

Total assets (beginning of the year) - 47,100

Number of share outstanding during the year is 6,100. No new shares were issued during the year. The stock was selling at $10 per share at the year end.

No additional entries are required.

REQUIREMENT: (Show your detailed work)

Prepare Classified Balance Sheet, Multiple Income Statement and Statement of Retained Earnings using the proper format and all the required accounting conventions.