These items are taken from the financial statements of IvanhoeCompany for 2022.
| Retained earnings (beginning of year) | | $33,800 |
| Utilities expense | | 2,160 |
| Equipment | | 66,300 |
| Accounts payable | | 20,560 |
| Cash | | 13,750 |
| Salaries and wages payable | | 6,640 |
| Common stock | | 21,800 |
| Dividends | | 12,000 |
| Supplies | | 3,600 |
| Debt investment (long-term) | | 5,600 |
| Trademarks | | 1,900 |
| Service revenue | | 71,700 |
| Prepaid insurance | | 7,140 |
| Maintenance and repairs expense | | 1,640 |
| Depreciation expense | | 3,270 |
| Accounts receivable | | 15,160 |
| Insurance expense | | 2,530 |
| Salaries and wages expense | | 40,700 |
| Accumulated depreciation—equipment | | 21,250 |
1. Prepare an income statement for the year ended December 31,2022. (Enter negative amounts using either a negativesign preceding the number e.g. -45 or parentheses e.g.(45).)
2. Prepare a retained earnings statement for the year endedDecember 31, 2022. (List items that increase retainedearnings first.)
3. Prepare a classified balance sheet as of December 31, 2022.(List Current Assets in order ofliquidity.)
