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Prepare an income statement as of December 2017. I tried to start it I got confused.

170 Dec. 1 *Comprehensive Accounting Cycle Review 6 On December 1, 2017, Oriole Company had the account balances shown below. Debits Cash $4,390 Accumulated Depreciation-Equipment Accounts Receivable 4,220 Accounts Payable Inventory (2,800 x $0.60) 1,680 Common Stock Equipment 19,300 Retained Earnings $29,590 - 1817 Credits $1,620 3,250 10,300 14,420 $29,590 The following transactions occurred during December Dec. 3 Purchased 3,800 units of inventory on account at a cost of $0.72 per unit (2136 5 Sold 4,200 units of inventory on account for $1.00 per unit. (It sold 2,800 of the $0.60 units and 1,400 of the $0.72.) 7 Granted the December 5 customer $200 credit for 200 units of inventory returned costing $170. These units were returned to inventory. 17 Purchased 2,200 units of inventory for cash at $0.80 each. ( 160) 22 Sold 2,000 units of inventory on account for $0.87 per unit. (It sold 2,000 of the $0.72 units Adjustment data: 1. Accrued salaries and wages payable $410. 2. Depreciation on equipment $190 per month. 3. Income tax expense was $200, to be paid next year. Journalize the December transactions and adjusting entries, assuming Oriole Company uses the perpetual inventory method. (Credit account titles are automatically indented when amount entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Prepare an income statement for December 2017. For the month and 12/31/17 Sales Revenue v Sales Returns Allowances less $5940 (200) Prepare a classified balance sheet at December 31, 2017. (List current assets in order or liquidity.) Assets

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