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

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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. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

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