Use the following list of accounts and balances, to prepare a balance sheet, income statement, cash flow statement and statement of retained earnings for Nina’s FIRST YEAR in business, Nina has a 60% gross profit margin and 30% tax rate:

Use the following list of accounts and balances, to prepare a balance sheet, income statement, cash flow statement and statement of retained earnings for Nina’s FIRST YEAR in business, Nina has a 60% gross profit margin and 30% tax rate:

Cash $10,000 Depreciation Exp 5,000
Unearned Revenue 7,000 Accts Rec 18,000
Dividends 2,000 Common Stock ?
Prepaid Exp 2,000 Accum. Deprec. ?
Accts Payable 23,000 Office Equipment 30,000
Operating Exp 15,000 Ending Ret. Earning ?
Sales 50,000 COGS ?
Inventory 20,000 Tax Expense

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