You are provided with the following information for Lazuris Enterprises, effective as of its April 30, 2022, year-end.

 Instructions 

a. Prepare an income statement and a retained earnings statement for Lazuris Enterprises for the year ended April 30, 2022. 

b. Prepare a classified balance sheet for Lazuris Enterprises as of April 30, 2022. 

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Accounts payable 834 Accounts receivable 810 Accumulated depreciation-equipment 670 Cash 1,270 Common stock 16,900 Cost of goods sold Depreciation expense 1,060 335 Dividends 325 Equipment 2,420 Goodwill 1,800 Income tax expense Income taxes payable Insurance expense 165 135 210 Interest expense 400 Inventory 967 Investment in land 14,200 Land 3,100 Mortgage payable (long-term) Notes payable (short-term) Prepaid insurance Retained earnings (beginning) Salaries and wages expense Salaries and wages payable 3,500 61 1,600 700 222 Sales revenue 5,100 Stock investments (short-term) 1,200