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HOMEWORK #2 DUE January 17 6 points Below are listed, in random order, accounts for Spartacus Corporation for the year-ended December 31, 2013....

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HOMEWORK #2 DUE January 17 6 points Below are listed, in random order, accounts for Spartacus Corporation for the year-ended December 31, 2013. Assume beginning Retained Earnings were $10,000. Prepare a Income Statement, a Statement of Retained Earnings, and a Balance Sheet. Be sure to use proper headings for these financial statements. Property tax expense $ 4,000 Land……………. . $ 78,000 Accounts receivable… 12,000 Cash …………… 10,000 Advertising expense… 13,000 Note payable ……. . 85,000 Building …………… 50,000 Rent expense ……. . 23,000 Salary expense……… 63,000 Contributed Capital. . 40,000 Service revenue …… 180,000 Furniture…………. . 20,000 Supplies …………. . 3,000 Utility expense……. 9,000 Dividends declared … 50,000 Accounts payable …. . 19,000 Salary payable ……… 1,000 I. Prepare the (1) Statement of Retained Earnings and the (2) Income Statement for Spartacus Corporation for the year-ended 12/31/13. Also prepare the (3) Balance Sheet as of 12/31/13. Use proper headings when making these statements. II. Looking at the financial statements, how does the company look going forward? Give some support for your conclusion.
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