This information relates to Whispering Winds Corp. for the year 2017.
Retained earnings, January 1, 2017
$80,400
Advertising expense
2,160
Dividends
7,200
Rent expense
12,480
Service revenue
69,600
Utilities expense
2,880
Salaries and wages expense
36,000
After analyzing the data, prepare an income statement for the year ending December 31, 2017.
Whispering Winds Corp.Income Statement For the Month Ended December 31, 2017December 31, 2017For the Year Ended December 31, 2017
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
$
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
$
Dividends Expenses Net Income / (Loss) Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
$
SHOW LIST OF ACCOUNTS
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After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List items that increase retained earnings first.)
Whispering Winds Corp.Retained Earnings Statement December 31, 2017For the Month Ended December 31, 2017For the Year Ended December 31, 2017
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
$
AddLess
:
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
AddLess
:
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
$
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