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Balance Sheet Assets Cash Inventory Buildings Total assets Liabilities and Stockholders Equity Liabilities Accounts payable
CARLA VISTA CO. Income Statement Revenues $84,700 Cost of goods sold (c) Salaries and wages expense 10,180 Net income $ (d) C
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CARLA VISTA CO.
Balance Sheet
Assets
Cash $        13,000
Inventory $        16,000
Buildings $        39,000
Total Assets $        68,000
Liabailities and Stockholders` Equity
Liabailities
Accounts payable $          5,000
Stockholders` Equity
Common Stock [68000-5000-33000] $        30,000
Retained Earnings $        33,000
Total Liabilities and stockholders` equity $        68,000
CARLA VISTA CO.
Income Statement
Revenues $        84,700
Cost of goods sold [84700-(19380+10180)] $        55,140
Salaries and wages expense $        10,180
Net Income $        19,380
CARLA VISTA CO.
Retained Earnings Statement
Beginning retained earnings $        18,000
Add: Net Income [33000+4380-18000] $        19,380
Less: Dividends $          4,380
Ending retained earnings $        33,000
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