Question

need retained earnings statement

These items are taken from the financial statements of Blossom Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,720 2,120 62,400 15,700 11,510 6,450 23,600 12,000 3,800 5,500 1,900 69,300 6,950 1,680 3,350 14,640 2,450 38,480 19,010

Answer 1

a1)

BLOSSOM COMPANY
Income Statement
For the Year Ended December 31,2022
Revenues:
Service revenue		$69,300
Expenses;
Utilities expense	$2,120
Maintenance and repairs expense	$1,680
Depreciation expense	$3,350
Insurance expense	$2,450
Salaries and wages expense	$38,480
Total expense		$48,080
Net income /(loss)		$21,220

a2)

BLOSSOM COMPANY
Statement of retained earnings
For the Year Ended December 31,2022
Retained earnings, Beginning	$32,720
Add: net income	$21,220
	$53,940
(Less): Dividends	($12,000)
Retained earnings, Ending	$41,940