Question: PART S: FINANCIAL STATEMENTS-Assorted Issues (9 Assume that Merrill Co. has the following account balances after it has made all of its adiesting entries (all

PART S: FINANCIAL STATEMENTS-Assorted Issues (9 Assume that Merrill Co. has the following account balances after it has made all of its adiesting entries (all accounts have their normal balances). Assume it is 2018. PTS TOTAL): Service revenue $1,000 Cash Equipment 500 Dividends Prepaid Rent Deferred Revenue 125 Rent Expense Taxes Payable 80 Salaries Expense 200 Utilities Expense Common Stock 820 Retained Earnings-beginning $1,300 $900 Account Receivable $375 950 425 275 800 Account Payable A. Please prepare the INCOME STATEMENT for 2018. Use good formform and content will be evaluated! (5 pts) B. Please compute the ENDING BALANCE OF RETAINED EARNINGS for 2018. Use good form-form and content will be evaluated! (4 pts)

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