These items are taken from the financial statements
of Wildhorse Co. for 2022.
Retained earnings (beginning of year): $33,820
Utilities expense: $2,160
Equipment: $63,900
Accounts payable: $16,060
Cash: $13,950
Salaries and wages payable: $5,910
Common stock: $23,500
Dividends: $12,000
Supplies: $3,900
Debt investment (long-term): $5,800
Trademarks: $2,400
Service revenue: $71,100
Prepaid insurance: $6,410
Maintenance and repairs expense: $1,640
Depreciation expense: $3,330
Accounts receivable: $13,630
Insurance expense: $2,470
Salaries and wages expense: $40,250
Accumulated depreciation—equipment: $21,450
Prepare an income statement for the year ended December 31,
2022. (Enter negative amounts using either a
negative sign preceding the number e.g. -45 or parentheses e.g.
(45).)