These financial statement items are for Snyder Corporation at year-end, July 31, 2012.
Salaries and wages payable ......................................................$2,580
Salaries and wages expense ....................................................$48,700
Utilities expense ......................................................................$22,600
Equipment ...............................................................................$21,000
Accounts payable .....................................................................$4,100
Service revenue ......................................................................$64,100
Rent revenue .............................................................................$8,500
Notes payable (due 2014) .........................................................$1,800
Common stock ........................................................................$16,000
Cash ........................................................................................$24,200
Accounts receivable ...............................................................$12,780
Accumulated depreciation ........................................................$6,000
Dividends .................................................................................$5,000
Depreciation expense ...............................................................$4,000
Retained earnings (beginning of the year) ..............................$35,200

Instructions
(a) Prepare an income statement and a retained earnings statement for the year. Snyder Corporation did not issue any new stock during the year.
(b) Prepare a classified balance sheet at July 31. USE GOOD FORM!

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May 23, 2013

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