Prepare financial statements.
(lo 1, 3), ap
you are provided with the following information for ramirez enterprises, effective as of its april 30, 2014, year-end.
accounts payable
$? 834
accounts receivable
810
accumulated depreciation�equipment
670
cash
1,270
common stock
900
cost of goods sold
1,060
depreciation expense
335
dividends
325
equipment
2,420
income tax expense
165
income taxes payable
135
insurance expense
210
interest expense
400
inventory
967
land
3,100
mortgage payable
3,500
notes payable
61
prepaid insurance
$? ? 60
retained earnings (beginning)
1,600
salaries and wages expense
700
salaries and wages payable
222
sales revenue
5,100
stock investments (short-term)
1,200
instructions
(a)
prepare an income statement and a retained earnings statement for ramirez enterprises for the year ended april 30, 2014.
net income
$2,230
(b)
prepare a classified balance sheet for ramirez enterprises as of april 30, 2014.
tot. current assets
$4,307
tot. assets
$9,157