You are provided with the following information for Ramirez Enterprises, effective as of its April 30, 2014, year-end.
|
Accounts payable
|
884
|
|
Accounts receivable
|
999
|
|
Accumulated depreciation-equipment
|
670
|
|
Cash
|
1459
|
|
Common stock
|
1467
|
|
Cost of goods sold
|
1110
|
|
Depreciation expense
|
285
|
|
Dividends
|
375
|
|
Equipment
|
2609
|
|
Income tax expense
|
215
|
|
Income taxes payable
|
185
|
|
Insurance expense
|
260
|
|
Interest expense
|
450
|
|
Inventory
|
1156
|
|
Land
|
3289
|
|
Mortgage payable
|
3689
|
|
Notes payable
|
250
|
|
Prepaid insurance
|
110
|
|
Retained earnings (beginning)
|
1600
|
|
Salaries and wages expense
|
650
|
|
Salaries and wages payable
|
272
|
|
Sales revenue
|
5289
|
|
Stock investments (short-term)
|
1339
|
1. Prepare an income statement for Ramirez Enterprises for the year ended April 30, 2014.
2. Prepare a retained earnings statement for Ramirez Enterprises for the year ended April 30, 2014.
3. Prepare a classified balance sheet for Ramirez Enterprises as of April 30, 2014. (List current assets in order of liquidity.)