You Are Provide with the Following Information for Trent Company

question 212

Essay

You are provide with the following information for Trent Company, effective as of its April 30, 2014, year-end. $$\begin{array} { l r } \text { Accounts payable } & \$ 834 \\\text { Accounts receivable } & 810 \\\text { Buildings, net of accumulated depreciation } & 3,537 \\\text { Cash } & 770 \\\text { Common stock } & 900 \\\text { Cost of goods sold } & 2,500 \\\text { Current portion of long-term debt } & 450 \\\text { Depreciation expense } & 335 \\\text { Dividends paid during the year } & 475 \\\text { Equipment, net of accumulated depreciation } & 1,220 \\\text { Income tax expense } & 265 \\\text { Income taxes payable } & 265 \\\text { Interest expense } & 400 \\\text { Inventory } & 967 \\\text { Land } & 1,600 \\\text { Long-term debt } & 3,500 \\\text { Prepaid expenses } & 12 \\\text { Retained earnings, beginning } & 1,600 \\\text { Service revenue } & 9,600 \\\text { Selling expenses } & 310 \\\text { Debt investments } & 1,200 \\\text { Salaries and wages expense } & 700 \\\text { Salaries and wages payable } & 222\end{array}$$ Instructions
Prepare an income statement and a retained earnings statement for Trent Company for the year ended April 30, 2014.

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Definitions:

Condition Monitoring

The practice of monitoring the condition of machinery or equipment, using various techniques to prevent failure and maintain operational efficiency.

Weaken a Behavior

The process of reducing the frequency or intensity of an undesired behavior, often through negative reinforcement or punishment.

Extinction

In behavioral psychology, the gradual weakening and eventual disappearance of a learned response following the cessation of reinforcement.

Reinforcement

In psychology, a process of encouraging or establishing a pattern of behavior by offering rewards or punishing unwanted behavior.