The fiscal year ends on December 31. It started fiscal year 20XX with $4,800 retained earnings

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The fiscal year ends on December 31. It started fiscal year 20XX with $4,800 retained earnings. Below is its financial information as of December 31, 20XX.    

Cash $3,810    

Depreciation expense $1,005    

Accumulated depreciation-property, plant, & equipment $2,010    

Accounts receivable $2,430    

Inventory $2,901    

Dividends $975    

Salaries and wages expense $2,100    

Income tax payable $404    

Short-term investment $3,600    

Accounts payable $2,502    

Property, plant, & equipment $7,260    

Salaries and wages payable $667    

Land $9,300    

Interest expense $1,200    

Mortgage payable $10,500    

Cost of goods sold $3,180    

Insurance expense $630    

Prepaid insurance $180    

Notes payable $183    

Sales Revenue $15,300    

Common stock $2,700    

Income tax expense $495    

    

Prepare the following financial statements for the company. Ensure you include appropriate headings and statements are in good form.    

1. Income statement for the year ended December 31, 20XX.    

2. Retained earnings statement for the year ended December 31, 20XX.    

3. Classified balance sheet as of December 31, 20XX.    

 

 

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