These items are taken from the financial statements of Tresh Corporation for 2014. Retained earnings (beginning of

Question:

These items are taken from the financial statements of Tresh Corporation for 2014.

Retained earnings (beginning of year)... $31,000

Utilities expense........... 2,000

Equipment.............. 66,000

Accounts payable........... 18,300

Cash............... 10,100

Salaries and wages payable...... 3,000

Common stock........... 12,000

Dividends.............. 12,000

Service revenue........... 68,000

Prepaid insurance.......... 3,500

Maintenance and repairs expense.... 1,800

Depreciation expense......... 3,600

Accounts receivable........... 11,700

Insurance expense........... 2,200

Salaries and wages expense...... 37,000

Accumulated depreciation—equipment.. 17,600

Instructions

Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.

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