The 2012 year-end adjusted balances taken from the general ledger of Cooperstown Services Inc. are listed below in general ledger order.
Coopertown Suppliers Inc.
DR
CR
Cash
$12950
Accounts receivable
28150
Supplies
8400
Prepaid insurance
9500
Land
115000
Buildings
360000
Equipment
260000
Accumulated depreciation
$239900
Accounts payable
35300
Salaries payable
7300
Taxes payableCommon stock
520031500
Additional paid-in capital CommonRetained earnings
15400427600
Dividends
25400
Service revenue
475000
Salaries expense
335600
Depreciation expense
25100
Supplies expense
12950
Insurance expense
8200
Miscellaneous expense
30850
Utilities expense
5100
Total
$1237200
$1237200
Transfer these accounts and balances to a spreadsheet worksheet and prepare an income statement a classified balance sheet and a statement of retained earnings all in good form using proper headings for each statement.Note that Cooperstown is a service company so there is no cost of goods sold in its chart of accounts. Also assume that all the liabilities are current liabilities. Keep in mind that you should not report any accounts without balances in your statements.
Ensure your work is accurate and reflects APA CITATIONS