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Do It! Review 1-3Accounts payableAccounts receivable5,780Advertising expense4,400Cash6,880Common stock18,780SuppliesDividends6,280Equipment30,580Marsh CorporationIncome StatementFor Year Ended December 31, 2014RevenuesService ReveuneExpensesRent ExpenseAdvertising ExpenseSupplies ExpenseTotal ExpensesNet IncomeMarsh CorporationRetained Earnings StatementFor Year Ended December 31, 2014Retained Earnings, January 1Marsh Corporation began operations on January 1, 2014. The following information is available forCorporation on December 31, 2014.$ 8,780NotespayableRentexpenseRetainedearningsServicerevenueSuppliesexpense
Add:Net IncomeLess:DividendsRetained Earnings, December 31Marsh CorporationBalance Sheet31-Dec-14AssetsCashAccounts ReceivableSuppliesEquipmentTotal AssestsLiabilities and Stockholders' EquityLiabilitiesAccounts PayableNotes PayableTotal LiabiltiesStockholder's EquityCommon StockRetained EarningsTotal Stockholder's EquityTotal Liabilities and Stockholder's Equity