Nash’s Trading Post, LLC began operations on January 1, 2017. The following information is available

Nash’s Trading Post, LLC began operations on January 1, 2017. The following information is available for Nash’s Trading Post, LLC on December 31, 2017.

Accounts payable $ 6,000 Notes payable $ 9,000
Accounts receivable 3,000 Rent expense 11,000
Advertising expense 4,100 Retained earnings ?
Cash 4,100 Service revenue 27,000
Common stock 16,000 Supplies 2,900
Dividends 3,500 Supplies expense 1,600
Equipment 27,800

Prepare an income statement for Nash’s Trading Post, LLC.

Nash’s Trading Post, LLC
Income Statement

$

$

$

Prepare a retained earnings statement for Nash’s Trading Post, LLC. (List items that increase retained earnings first.)

Nash’s Trading Post, LLC
Retained Earnings Statement

$

:

:

$

Prepare a balance sheet for Nash’s Trading Post, LLC. (List assets in order of liquidity.)

Nash’s Trading Post, LLC
Balance Sheet

Assets

$

$

Liabilities and Stockholders’ Equity

$

$

$

$

 
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