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These financial statement items are taken from the financial statements of Drew Corporation for the year ended December 31, 2010.

Retained earnings (beginning of year) $31,000
Is.Utilities expense 2,000
BSA.Equipment 66,000
BSL.Accounts payable 13,300
BSA.Cash 17,900
BSL.Salaries payable 3,000
BSS.Common stock 13,000
RE.Dividends 12,000
IS.Service revenue 82,000
BSA.Prepaid insurance 3,500
IS.Repair expense 1,800
IS.Depreciation expense 14,200
BSA.Accounts receivable 37,000
BSA.Accumulated depreciation 17,600

Prepare an income statement, a retained earnings statement, and a balance sheet as of December 31, 2010.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M999593

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