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Prepare the annual income statement and retained earnings statement, and the classified balance sheet for Caldera...

Prepare the annual income statement and retained earnings statement, and the classified balance sheet for Caldera Veterinary Clinic, Inc. The trial balance is provided below.  

Caldera Veterinary Clinic, Inc.

Trial Balance

10/31/2017

Debit

Credit

Cash

212,400

Accounts receivable

67,000

Supplies

    3,000

Equipment

146,250

Accounts payable

    6,000

Note payable due January 1, 2019

120,000

Common stock

250,000

Retained earnings

42,500

Dividends

    2,500

Service revenue

120,000

Salaries and wages expense

80,000

Rent expense

20,000

Insurance expense

    3,750

Utilities expense

    3,600

538,500

538,500

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Expert Solution

ekkarill92 answered 1 year ago
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