These items are taken from the financial statements of Xenox Corporation for 2012.
|
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, 2012.