You are provided with the following information for Lazuris Enterprises, effective as of its April 30, 2017, year-end.

Accounts payable ...................................................... $ 834

Accounts receivable ...................................................810

Accumulated depreciation-equipment ............................670

Cash ..................................................................... 1,270

Common stock .........................................................900

Cost of goods sold .................................................... 1,060

Depreciation expense .................................................335

Dividends ...............................................................325

Equipment .............................................................. 2,420

Income tax expense ...................................................165

Income taxes payable .................................................135

Insurance expense .....................................................210

Interest expense .......................................................400

Inventory ...............................................................967

Land ..................................................................... 3,100

Mortgage payable ..................................................... 3,500

Notes payable......................................................... 61

Prepaid insurance ..................................................... 60

Retained earnings (beginning) ...................................... 1,600

Salaries and wages expense .........................................700

Salaries and wages payable .........................................222

Sales revenue ......................................................... 5,100

Stock investments (short-term) .................................... 1,200

Instructions

(a) Prepare an income statement and a retained earnings statement for Lazuris Enterprises for the year ended April 30, 2017.

(b) Prepare a classified balance sheet for Lazuris Enterprises as of April 30, 2017.