Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2018.

Required:

Prepare the four basic financial statements for the fiscal year ended August 31, 2018.

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Accounts Payable $145,000 Office Expenses 95,000 Accounts Receivable 15,000 Prepaid Rent 50,000 Cash (balance on September 1, 2017) 75,000 Retained Earnings (beginning) 410,000 Cash (balance on August 31, 2018) 80,000 Salaries and Wages Expense 955,000 Common Stock 100,000 Salaries and Wages Payable 170,000 Dividends 10,000 Sales Revenue 1,660,000 Equipment 755,000 Supplies 25,000 Notes Payable 30,000 Utilities Expense 530,000