Question Details

These financial statement items (in thousands) are for Chen Company 



These financial statement items (in thousands) are for Chen Company at year-end, July 31, 2011.

Salaries payable	¥  4,580	Note payable (long-term)	¥  3,300
Salaries expense	45,700	Cash	22,200
Utilities expense	19,100	Accounts receivable	9,780
Equipment	22,000	Accumulated depreciation	6,000
Accounts payable	4,100	Dividends	4,000
Commission revenue	   56,100	Depreciation expense	4,000
Rent revenue	   6,500	Retained earnings (1/1/2011) 	30,000
Share capital-ordinary     16,200	

Instructions
(a)	Prepare an income statement and a retained earnings statement for the year.
(b)	Prepare a classified statement of financial position at July 31, 2011.





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