Dickens Corp.’s fiscal year ends on December 31. It started fiscal year 20X6 with $4,800 retained earnings. Below is its financial information as of December 31, 20X6.
| Cash | $3,810 |
| Depreciation expense | $1,005 |
| Accumulated depreciation-property, plant, & equipment | $2,010 |
| Accounts receivable | $2,430 |
| Inventory | $2,901 |
| Dividends | $975 |
| Salaries and wages expense | $2,100 |
| Income tax payable | $404 |
| Short-term investment | $3,600 |
| Accounts payable | $2,502 |
| Property, plant, & equipment | $7,260 |
| Salaries and wages payable | $667 |
| Land | $9,300 |
| Interest expense | $1,200 |
| Mortgage payable | $10,500 |
| Cost of goods sold | $3,180 |
| Insurance expense | $630 |
| Prepaid insurance | $180 |
| Notes payable | $183 |
| Sales Revenue | $15,300 |
| Common stock | $2,700 |
| Income tax expense | $495 |
Prepare the following financial statements for Dickens Corp. Ensure you include appropriate headings and statements are in good form.
- Income statement for the year ended December 31, 20X6.
- Retained earnings statement for the year ended December 31, 20X6.
- Classified balance sheet as of December 31, 20X6.
