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These financial statement items are for Wildhorse Co. at year-end, July 31, 2017.
| Salaries and wages payable | | $ 3,880 |
| Salaries and wages expense | | 59,200 |
| Supplies expense | | 17,000 |
| Equipment | | 20,300 |
| Accounts payable | | 4,100 |
| Service revenue | | 67,800 |
| Rent revenue | | 9,900 |
| Notes payable (due in 2020) | | 2,900 |
| Common stock | | 16,000 |
| Cash | | 30,900 |
| Accounts receivable | | 10,880 |
| Accumulated depreciationequipment | | 7,600 |
| Dividends | | 4,000 |
| Depreciation expense | | 5,600 |
| Retained earnings (beginning of the year) | | 35,700 |
Prepare an income statement for the year. Wildhorse Co. did not issue any new stock during the year.
Prepare a retained earnings statement for the year. Wildhorse Co. did not issue any new stock during the year.
Prepare a classified balance sheet at July 31. (List current assets in order of liquidity.) Liabilities and Stockholders' Equity
Compute the current ratio and debt to assets ratio
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