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On December 31, 2019, the adjusted balances of the accounts appearing in Prestige Furniture Company...

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Accounting

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On December 31, 2019, the adjusted balances of the accounts appearing in Prestige Furniture Company are as following Cash Accounts Receivable Store Supplies+ Inventory Building+ Accumulated Depreciation- Building (credit balance) Salary Payable + Notes Payable Common Stock Retained Earnings, beginning of the year Dividends Sales + Cost of Goods Sold + Sales Salaries Expense + Advertising Expense + Misc. Selling Expense + Office Salaries expense Depreciation Expense-Building + Misc. Administration Expense+ Interest Expense $175,000 20,000 90,000 980,000 2,500,000 $750,000 8,000 250,000 300,000 1,287,000 175,000 6,410,000 3,800,000 560,000 132,000 23,000 484,000 40,000 16,000 10,000 2. Generate Retained Earnings Statement based upon the above information and net irecome you calculated. (10 points). Generate Balance Sheet as of December 31, 2018 (15 points)

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