The following information relates to Linda Stanley Co. for the year 2011
|
Retained earnings, January 1, 2011 |
$48,000 |
Advertising expense |
$ 1,800 |
|
Dividends during 2011 |
6,000 |
Rent expense |
10,400 |
|
Service revenue |
62,500 |
Utilities expense |
3,100 |
|
Salaries expense |
30,000 |
Instructions
After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2011.