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Exercise 4-17 al,a2-b (Video) These financial statement items are for Norsted Company at year-end, July 31, 2019. Salaries and wages payable $2,080 Notes payable (long-term) $ 1,800 Salaries and wages expense 51,700 Cash 14,200 Utilities expense 22,600 Accounts receivable 9,780 Equipment 30,400 Accumulated depreciation-equipment 6,000 Accounts payable 4,100 Dividends 3,000 Service revenue 62,000 Depreciation expense 4,000 Rent revenue 8,500 Retained Earnings (beginning of the year) 21,200 Common Stock 30,000 Prepare an income statement for the year. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Norsted Company Income Statement Prepare a retained earnings statement for the year. Norsted Company Retained Earnings Statement Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.) Norsted Company Balance Sheet Assets Liabilities and Stockholders' Equity