income statement
Sales
205,000
cost of goods sold
-97,000
salaries expense
-24,000
depreciation expense
-16,000
interest expense
-2,400
loss on equipment disposal
-2,500
net income
63,100
Statement of Retained Earnings
Beginning Balance - Retained Earnings
6,000
Plus - Net Income
63,100
Less - Dividends
(41,500)
Ending Balance - Retained Earnings
27,600
Balance sheets
2018
2019
change
Assets:
Cash
13,000
64,600
51,600
Accounts Receivable
25,000
19,000
(6,000)
Inventory
19,000
13,000
(6,000)
prepaid expenses
0
0
0
Equipment
60,000
41,000
(19,000)...