Answers
| CARISSA COMMUNICATIONS | ||
| STATEMENT OF RETAINED EARNINGS | ||
| YEAR ENDED JULY31,2018 | ||
| particular | $ | |
| Retained earning ,august1,2017 | 0 | |
| income for the year | $6,845 | |
| retained earning , july31,2018 | $6,845 | |
| Balance sheet | ||
| july31,2018 | ||
| Assets: | $ | $ |
| current assets: | ||
| account receivable | 3400 | |
| merchandies inventory | 1300 | |
| cash | 3500 | |
| total current assets | 8200 | |
| Fixed assets: | ||
| equipment net | 12500 | |
| total fixed assets | 12500 | |
| total assets | 20700 | |
| Liabilities: | ||
| Current liabilities: | ||
| account payble | 4600 | |
| accured liabilities | 1900 | |
| total current liabilities | 6500 | |
| Non current liabilities: | ||
| note payble | 1500 | |
| total non current liabilities | 1500 | |
| totoal liabilities | 8000 | |
| stockholder's equity | ||
| common stock | 5855 | |
| retained earning | 6845 | |
| total stockholder's equity | 12700 | |
| total | 20700 | |
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