Klein Interiors Has the Following Account Balances at the End

question 44

Essay

Klein Interiors has the following account balances at the end of the year.Use only the appropriate accounts to prepare a balance sheet.
$$\begin{array} { | l | r | } \hline { \text { Accounts } } & \text { Balances } \\\hline \text { Equipment } & \$ 78,000 \\\hline \text { Accounts Payable } & 12,000 \\\hline \text { Common Stock } & 20,000 \\\hline \text { Service Revenue } & 62,000 \\\hline \text { Cash } & 8,000 \\\hline \text { Retained Earnings } & \boldsymbol { ? } \\\hline \text { Salaries Expense } & 38,000 \\\hline \text { Notes Payable } & 25,000 \\\hline\end{array}$$

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