Refer to E3-9.

Data From inE3-9

Stacey’s Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows:

Required:
Use the ending balances in the T-accounts in E3-9 to prepare an unadjusted classified income statement for January of the second year (ignore income taxes).

Transcribed Image Text:

Cash Accounts receivable Supplies Equipment Land Building $ 6,400 32,000 1,500 9,500 7,400 25,300 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings $ 9,600 3,840 48,500 1,600 7,000 11,560