Prepare the income statement and the balance sheet

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Reference no: EM13867032

Part 3: Below are the accounts for Green Inc. The company has just completed its second year of operations ended December 31, 2013.

Cash

$19,000

Notes Payable

16,000

Service Fees Revenue

72,900

Supplies Expense

7,900

Insurance Expense

3,000

Contributed Capital

17,000

Building

24,500

Rent Expense

8,500

Salaries Expense

32,400

Supplies (on hand)

7,100

Advertising Expense

4,000

Retained Earnings, 1/1/13

6,200

Salaries Payable

7,300

Accounts Receivable

9,000

Dividends (declared and paid during 2013)

4,000

Prepare the (1) Income Statement and the (2) Balance Sheet for Green Inc. for the year-ended 12/31/13. Use proper headings when making these statements.

Reference no: EM13867032

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