Prepare a well labeled and classified balance sheet and income statement and statement of retained earnings for The Montana Pasta company as Dec 31, 2011 and the year ended Dec 31, 2011. Give the list of accounts and thier respective balances below you obtained from the general ledger.
pasta revenue 1250000
retained earnings, january 100000
cash 100000
notes payable due january 31,2012 50000
rent expense 20000
interest income 10000
income tax expense 50000
accounts payable 85000
accounts receivable 28000
advertising expenses 25000
cost of goods sold expense 500000
general and administrative expense 50000
contributed capital 100000
dividends declared and paid 10000
pasta inventories 250000
land 87000
notes payable due january 31,2013 200000
other long-term assets 100000
unearned revenue- short -term 50000
interest expense 25000
other expenses 100000
factory buildings 500000