These items are taken from the financial statements of Marigold Corp. for 2017.
Retained earnings (beginning of year) $32,850
Utilities expense 2,180
Equipment 67,850
Accounts payable 20,210
Cash 14,980
Salaries and wages payable 5,630
Common stock 12,000
Dividends 12,000
Service revenue 72,680
Prepaid insurance 6,130
Maintenance and repairs expense 1,620
Depreciation expense 3,180
Accounts receivable 13,610
Insurance expense 2,620
Salaries and wages expense 41,680
Accumulated depreciation-equipment 22,480
(a)
Prepare an income statement for the year ended December 31, 2017.
Marigold Corp.
Income Statement
V
V
$
$
$