Exercise 2-8 These financial statement items are for Metlock, Inc. at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable $3,280 58,700 17,300 19,700 4,100 67,300 10,200 2,800 16,000 30,500 10,780 7,700 4,000 5,700 35,300 Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) Prepare an income statement for the year. Metlock, Inc. did not issue any new stock during the year. Metlock, Inc. Income Statement e to search Et 49 3 4 6 8 Prepare an income statement for the year. Metlock, Inc. did not issue any new stock during the y Metlock, Inc. Income Statement to search Prepare a retained earnings statement for the year. Metlock, Inc. did not issue any new stock during the year. Metlock, Inc. Retained Earnings Statement SHoW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERC Prepare a classified balance sheet at July 31. (List current assets in order of liquidity) Metlock, Inc. Balance Sheet 3 4 5 6 8 ent Prepare a classified balance sheet at July 31. (List current assets in order of liquidity.) Metlock, Inc. Balance Sheet Assets Liabilities and Stockholders' Equity 49 8 3 4 5 6 Liabilities and Stockholders Equity 3 4 5 6 7 9 Exercise 2-8 These financial statement items are for Metlock, Inc. at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable $3,280 58,700 17,300 19,700 4,100 67,300 10,200 2,800 16,000 30,500 10,780 7,700 4,000 5,700 35,300 Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) Prepare an income statement for the year. Metlock, Inc. did not issue any new stock during the year. Metlock, Inc. Income Statement e to search Et 49 3 4 6 8 Prepare an income statement for the year. Metlock, Inc. did not issue any new stock during the y Metlock, Inc. Income Statement to search Prepare a retained earnings statement for the year. Metlock, Inc. did not issue any new stock during the year. Metlock, Inc. Retained Earnings Statement SHoW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERC Prepare a classified balance sheet at July 31. (List current assets in order of liquidity) Metlock, Inc. Balance Sheet 3 4 5 6 8 ent Prepare a classified balance sheet at July 31. (List current assets in order of liquidity.) Metlock, Inc. Balance Sheet Assets Liabilities and Stockholders' Equity 49 8 3 4 5 6 Liabilities and Stockholders Equity 3 4 5 6 7 9