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Linda’s Lampshades started business on Jan. 1, 2001. The company reported the following data as of January 31, 2001.
Retained Earnings January 1, 2001 21,500
Accounts Receivable 28,000
Net Revenue 175,500 Accounts Payable 40,000
Insurance Expense 10,000
Common Stock 10,500
Salary Expense 15,000
Buildings 100,000
Depreciation Expense 4,000
Salary Payable 9,000
Dividends Payable 6,100
Supplies 5,000
Accumulated Deprecation, buildings 93,700
Cost of goods sold 136,000
Cash 20,800
Land 6,300
Additional Paid in Capital 12,000
Inventory 35,000
Prepaid Insurance 7,700
Prepare the income statement, statement of retained earnings and balance sheet as of January 31, 2017. Prepare all statements in good form (Titles, format, ect. The balance sheet should have categories like a classified balance sheet)
All accounts have their normal account balances
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