Problem 2-3A You are provided with the following information for Novak Corp., effective as of its April 30, 2017, year-end. Accounts payable Accounts receivable Accumulated depreciation-equipment Cash Common stock Cost of goods sold Depreciation expense Dividends Equipment Income tax expense Income taxes payable Insurance expense Interest expense Inventory Land Mortgage payable Notes payable Prepaid insurance Retained earnings (beginning) Salaries and wages expense Salaries and wages payable Sales revenue Stock investments (short-term) $874 920 670 1,380 1,230 1,100 295 365 2,530 205 175 250 440 1,077 3,210 3,610 100 1,600 660 262 5,210 1,270 Prepare an income statement for Novak Corp. for the year ended April 30, 2017 Novak Corp. Income Statement Prepare a retained earnings statement for Novak Corp. for the year ended April 30, 2017. (List items that increase retained earnings first.) Novak Corp. Retained Earnings Statement Liabilities and Stockholders' Equity