Photo Gallery works weddings and prom- type parties. The balance

Photo Gallery works weddings and prom- type parties. The balance of Retained Earnings was $ 17,000 at December 31, 2013. At December 31, 2014, the business’s accounting records show these balances:


Photo Gallery works weddings and prom- type parties. The balance


Prepare the following financial statements for Photo Gallery for the year ended December 31, 2014:
a. Income statement.
b. Statement of retained earnings.
c. Balancesheet.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

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