USING THE SPACE BELOW PLEASE PREPARE, IN GOOD FORM INCLUDING HEADINGS, IN THIS ORDER:

1.) AN INCOME STATEMENT

2.) A STATEMENT OF STOCKHOLDERS EQUITY (AS MENTIONED IN CLASS YOU ONLY NEED

TO PREPARE THE COLUMN FOR RETAINED EARNINGS FOR THE EXAM)

3.) A BALANCE SHEET

Trial balance for Dynamite Sales For the Year ended August 31, 2015

AMOUNT

Dividend Payable$7,200

Unearned Revenue3,000

Salaries Expense6,000

Accumulated DepreciationOffice Equipment900

Prepaid Expenses7,200

Depreciation Expense4,950

Paid In Capital4,500

Sales Revenue81,000

Accounts Receivable38,320

Retained Earnings6,615

Salaries Payable1,350

Cash47,700

Common Stock (Par $1; 29,000 shares)29,000

Interest Expense4,250

Long Term Debt25,000

Inventories270

Rent Expense5,000

Equipment2,700

Dividends Declared7,200

Income tax expense9,180

Company Vehicles27,000

Cost of Goods Sold27,000

Accounts Payable16,225

Investments-Short Term7,000

Accrued Expenses4,000

Accumulated Depreciation Vehicles9,000

Utilities Expense5,200

Dividend Revenue2,000

Income Taxes Payable9,180