Question

FULL SCREEN PRINTER VERSO Exercise 1-10 is a private camping ground near the Mount Mquel Recreation Area. it has compiled the fallowing financial information as of December 31, 2017 Marigold Corp. Service revenue (from camoing $139,920 Dividenids lees)e evenue Sales revenue (from general store) Accounts payable 9,540 26,500 11,660 Expenses during 2017 9,010 Supplies Notes payable 133,560 5,830 120,840 Common stock Retained earnings 1/1/2017) Determine Marigold Corp 's net income for 2017 Marigold Corp. 's net income for 2017 Prepare a retaied earnings犠atement for Maripold Corp. year ended December 31, 2017. (aist items that inrease mtaim, eomǐws firt) 6 8 USE YOUR SMARTPH

Answer 1

Marigold Corp
Income Statement
For the year ended December 31 2017
Service revenue	$ 1,39,920.00
Sales revenue	$     26,500.00
Total Revenue		$ 1,66,420.00
Less: Operating Expenses		$ 1,33,560.00
Net income		$      32,860.00

Requirement 1= net income -$32,860

Requirement 2

Marigold Corp
Retained earnings Statement
For the year ended December 31 2017
Retained earnings January 1	$    5,300.00
Add: Profits earned during the period	$ 32,860.00
	$ 38,160.00
Less: Dividends Paid	$    9,540.00
Retained earnings December 31	$ 28,620.00