These financial statement items are for Emjay Company at year-end, July 31, 2014.
| Salaries and wages payable |
$2,080 |
Notes payable (long-term) |
$1,800 |
| Salaries and wages expense |
50,700 |
Cash |
14,200 |
| Utilities expense |
22,600 |
Accounts receivable |
9,180 |
| Equipment |
30,000 |
Accumulated depreciation-equip. |
6,000 |
| Accounts payable |
4,100 |
Dividends |
3,000 |
| Service revenue |
62,000 |
Depreciation expense |
2,500 |
| Rent revenue |
8,500 |
Retained earnings (beginning of the year) |
22,700 |
| Common stock |
25,000 |
|
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Prepare an income statement for the year.
Prepare a Retained Earnings statement for the year.
Prepare a classified balance sheet at July 31.