FINANCIAL STATEMENT Practice Problem NAME Given the list below of accounts and normal balances for the Munchkin income statement, statement of stockholders equity and classified balance sheet. Company on Dec 31, create an Cash Inventory Supplies Equipment Buildings Accounts payable Salaries Payable Common Stock 1,300 4,000 2,400 20,000 30,000 3.400 900 33,000 Retained Earnings (1/1) Service Revenue Cost of Goods Sold Delivery Expense Salaries Expense 16.200 62,700 52,400 1,600 4,500 Use the form below to create an Income Statement (Include headings) Bev b Create a Statement of Retained Earnings for Muchkin Beginning Retained Earnings Ending Retained Earnings c. Use the form below to create a Balance Sheet for Munchkin Cash 4,000 400 0,000 30,000 3.400 900 33,000 16,200 62,700 52,400 1,600 4,500 Su Buildin Accounts payable Salaries Payable Common Stock Retained Earnings (1/1) Service Revenue Salaries Expense