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Prepare an Income Statement

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This information relates to Whispering Winds Corp. for the year 2017.

Retained earnings, January 1, 2017 $80,400
Advertising expense 2,160
Dividends 7,200
Rent expense 12,480
Service revenue 69,600
Utilities expense 2,880
Salaries and wages expense 36,000

After analyzing the data, prepare an income statement for the year ending December 31, 2017.

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Whispering Winds Corp.
Income Statement

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After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List items that increase retained earnings first.)

Whispering Winds Corp.
Retained Earnings Statement

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