College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2020),...

   

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College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2020), the following financial data for the company are available: Cash Accounts Receivable Supplies Property and Equipment Other Assets Accounts Payable Notes Payable Other Liabilities Sales Revenue Operating Expenses Selling and Administrative Expenses Advertising and Marketing Expenses Interest Expense Retained Earnings, July 1, 2019 Contributed Capital Dividends $ 6,000 139.700 38,000 231,200 14,800 59.900 160,000 26,200 260,000 194,800 46,200 23,400 6,000 50,000 167.000 23,000 Required: 1. Prepare an income statement for the year ended June 30, 2020. (Negative amounts should be indicated by a minus sign.) Expenses COLLEGE PARK VETERINARY CLINIC Income Statement For the Year Ended June 30, 2020 Total expenses 2. Prepare a statement of retained earnings for the year ended June 30, 2020. (Negative amounts should be indicated by a minus sign.) COLLEGE PARK VETERINARY CLINIC Statement of Retained Earnings For the Year Ended June 30, 2020 Retained earnings, July 1, 2019 Retained earnings, June 30, 2020 3. Prepare a balance sheet at June 30, 2020. College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2020), the following financial data for the company are available: Cash Accounts Receivable Supplies Property and Equipment Other Assets Accounts Payable Notes Payable Other Liabilities Sales Revenue Operating Expenses Selling and Administrative Expenses Advertising and Marketing Expenses Interest Expense Retained Earnings, July 1, 2019 Contributed Capital Dividends $ 6,000 139.700 38,000 231,200 14,800 59.900 160,000 26,200 260,000 194,800 46,200 23,400 6,000 50,000 167.000 23,000 Required: 1. Prepare an income statement for the year ended June 30, 2020. (Negative amounts should be indicated by a minus sign.) Expenses COLLEGE PARK VETERINARY CLINIC Income Statement For the Year Ended June 30, 2020 Total expenses 2. Prepare a statement of retained earnings for the year ended June 30, 2020. (Negative amounts should be indicated by a minus sign.) COLLEGE PARK VETERINARY CLINIC Statement of Retained Earnings For the Year Ended June 30, 2020 Retained earnings, July 1, 2019 Retained earnings, June 30, 2020 3. Prepare a balance sheet at June 30, 2020.

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