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.
|Accumulated depreciation-property, plant, & equipment||$2,010|
|Salaries and wages expense||$2,100|
|Income tax payable||$404|
|Property, plant, & equipment||$7,260|
|Salaries and wages payable||$667|
|Cost of goods sold||$3,180|
|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.