Dream Photography works weddings and prom-type parties. The balance of retained earnings was $28,000 at December 31, 2017. At December 31, 2018, the business's accounting records show these balances:

Prepare the following financial statements Dream Photography for the year ended December 31, 2018:

a. Income statement

b. Statement of retained earnings.

c. Balance sheet.

 

Transcribed Image Text:

a. Prepare Dream Photography's income statement. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Net Income b. Prepare Dream Photography's statement of retained earnings. Retained Earnings, December 31, 2017 Retained Earnings, December 31, 2018 a. Prepare Dream Photography's income statement. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Net Income b. Prepare Dream Photography's statement of retained earnings. Retained Earnings, December 31, 2017 Retained Earnings, December 31, 2018

Answer rating: 100% (QA)

ATTACHED IMAGE STATEMENT OF RETAINED EARNING BALANCE SH... View the full answer