The following account balances were included in the trial

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The following account balances were included in the trial balance of Twain Corporation at June 30, 2012. The Retained Earnings account had a balance of $337,000 at July 1, 2011. There are 80,000 shares of common stock outstanding. Instructions (a) Using the multiple-step form, prepare an income statement and a retained earnings statement for the year ended June 30, 2012. (b) Using the single-step form, prepare an income statement and a retained earnings statement for the year ended June 30,2012.

Reference no: EM13587710

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