Question: Using the account list below, create the Multiple-Step Income Statement, Statement of Retained Earnings and Classified Balance Sheet for Tennis Manufacturing, Inc. for December 31,
Using the account list below, create the Multiple-Step Income Statement, Statement of Retained Earnings and Classified Balance Sheet for Tennis Manufacturing, Inc. for December 31, 2018. **Notethe only selling expense is salaries expense. Total Assets = 417,400
| Additional Paid In Capital-C/S | 10,400 |
| Depreciation Expense | 4,000 |
| Prepaid Rent | 7,000 |
| Notes Payable-due in 5 years | 34,500 |
| Utilities Expense | 5,100 |
| Accumulated Depreciation-Machine | 15,000 |
| Sales Revenue | 350,000 |
| Retained Earnings | 40,000 |
| Interest Payable | 2,300 |
| Interest Expense | 1,200 |
| Common Stock | 14,000 |
| Cash | 207,000 |
| Accounts Payable | 42,000 |
| Cost of Goods Sold | 50,000 |
| Unearned Revenue | 8,700 |
| Supplies Expense | 5,600 |
| Cash Dividends | 8,000 |
| Supplies | 10,000 |
| Salaries Expense | 7,500 |
| Machine | 154,000 |
| Salaries Payable | 3,500 |
| Prepaid Insurance | 2,400 |
| Rent Expense | 2,500 |
| Accounts Receivable | 52,000 |
| Income Tax Expense | 4,100 |
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