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    Balance Sheet, Income Statement, and Retained Earnings

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    Please prepare a balance sheet, an income statement and a statement of retained earnings and fill in the cash part.

    Accounts payable 930
    Accounts receivable 550
    Accumulated amortization $7,500
    Advertising expenses 1,800
    Amortization expense 2,300
    Capital Assets 21,000
    Capital Stock 10,000
    Cash ?
    Cost of goods sold 3,750
    Current portion of long term debt 550
    Dividends 250
    Interest expense 2,650
    Inventory 1,850
    Land 15,000
    Long term debt (non current) 13,000
    Other expense 1,750
    Patents 2,000
    Prepaid assets 520
    Retained earnings , January 1,2004 7,520
    Revenue $16,760
    Unearned revenue 300
    Wages expense 3,300
    Wages payable 525

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    Solution Summary

    The solution prepares a balance sheet, an income statement and a statement of retained earnings.