The following is a list of accounts of the Dienstag Company for the current year end...

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The following is a list of accounts of the Dienstag Company for the current year end (December 31, 2020. All of the accounts have normal balances. You are being asked to prepare an Income Statement, a statement of Retained Earnings and a classified Balance Sheet. Accounts Payable Accounts Receivable Accumulated Depreciation - Building Freight-out Expense Allowance for Uncollectible Accounts Amortization Expense Bonds Payable Building Cash Common Stock Dividends Declared $48,000 32,000 64,000 64,000 0,000 24,000 320,000 720,000 56,000 400,000 120,000 56,000 40,000 25,600 Administrative Salary Expense $400,000 Beginning Inventory Freight -In Ending Inventory Land Land Held for Future Use Purchases Beginning Retained Earnings Salaries Payable Sales Marketing Salary Expense Utility Expense Income Tax Expense Depreciation Expense Copyright Income Taxes Payable (25 points) Prepare an Income Statement in proper form using the above data. 56,000 48,000 32,000 200,000 280,000 440,000 568,000 16,000 1,600,000 400,000 80,000 40% The following is a list of accounts of the Dienstag Company for the current year end (December 31, 2020. All of the accounts have normal balances. You are being asked to prepare an Income Statement, a statement of Retained Earnings and a classified Balance Sheet. Accounts Payable Accounts Receivable Accumulated Depreciation - Building Freight-out Expense Allowance for Uncollectible Accounts Amortization Expense Bonds Payable Building Cash Common Stock Dividends Declared $48,000 32,000 64,000 64,000 0,000 24,000 320,000 720,000 56,000 400,000 120,000 56,000 40,000 25,600 Administrative Salary Expense $400,000 Beginning Inventory Freight -In Ending Inventory Land Land Held for Future Use Purchases Beginning Retained Earnings Salaries Payable Sales Marketing Salary Expense Utility Expense Income Tax Expense Depreciation Expense Copyright Income Taxes Payable (25 points) Prepare an Income Statement in proper form using the above data. 56,000 48,000 32,000 200,000 280,000 440,000 568,000 16,000 1,600,000 400,000 80,000 40%

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INCOME STATEMENT Revenue Sales Revenue 1600000 Less Cost of Goods Sold Beginning inventory 56000 Add ... View the full answer