Gould Corporation began operations on January 1, 2012. The following information is available for Gould Corporation on December 31, 2012
|
Accounts payable
|
$5,000
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Notes payable
|
$7,000
|
|
Accounts receivable
|
2,000
|
Rent expense
|
10,000
|
|
Advertising expense
|
4,000
|
Retained earnings
|
?
|
|
Cash
|
3,100
|
Service revenue
|
25,000
|
|
Common stock
|
15,000
|
Supplies
|
1,900
|
|
Dividends
|
2,500
|
Supplies expense
|
1,700
|
|
Equipment
|
26,800
|
|
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Prepare an income statement, a retained earnings statement, and a balance sheet for Gould Corporation.