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Option #1: Income Statement, Retained Earnings, and Balance Sheet for Dickens Corp.

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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.



Depreciation expense


Accumulated depreciation-property, plant, & equipment


Accounts receivable






Salaries and wages expense


Income tax payable


Short-term investment


Accounts payable


Property, plant, & equipment


Salaries and wages payable




Interest expense


Mortgage payable


Cost of goods sold


Insurance expense


Prepaid insurance


Notes payable


Sales Revenue


Common stock


Income tax expense


Prepare the following financial statements for Dickens Corp. Ensure you include appropriate headings and statements are in good form.

  1. Income statement for the year ended December 31, 20X6.
  2. Retained earnings statement for the year ended December 31, 20X6.
  3. Classified balance sheet as of December 31, 20X6.

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