These financial statement items are for B. Snyder Company Inc. at year-end, July 31, 2011.

Instructions
(a) Prepare an income statement and a retained earnings statement for the year.
(b) Prepare a classified balance sheet at July31.

Transcribed Image Text:

S 2,080 51,700 22,600 18,500 4,100 61,100 8,500 30,000 Salaries payable Salaries expense Utilities expense Equipment Accounts payable Commission revenue Rent revenue Common stock Note payable (long-term) Cash Accounts receivable Accumulated depreciation Dividends Depreciation expense Retained earnings (beginning 1800 24.200 9,780 6,000 4,000 4,000 21200 of the year)