Accounts

Balance  

Interest expense

        16,000

Depreciation expense, admin.

          7,380

Sales telephone expense

        13,850

Cost of Goods Sold

      886,270

Sales returns and allowances

        62,300

Sales commissions expense

        92,600

Salespersons' salaries

        46,260

Sales Revenue

   1,543,000

Salespersons' travel

        28,800

Delivery expense

        21,400

Depreciation - sales

        11,180

Sales Discounts

        31,150

Miscellaneous selling expenses

        11,765

Maintenance and repairs

          9,130

Property tax expense, admin

          7,320

Supplies expense, admin.

          8,450

Administration telephone

          4,820

Office expenses, admin.

          6,000

Dividends received

        38,000

Income tax expense

        97,000

Depreciation understatement due to error - 2011 (net of tax)

        13,300

Dividends declared on preferred stock

        12,000

Dividends declared on common stock

        34,500

The balance in Retained Earnings at July 1, 2013 was

      337,000

The number of shares of common stock outstanding is

        80,000

In the space below, prepare the following statements for the year ended June 30, 2014:

multiple-step income statement, single-step income statement, and statement of retained earnings