**Please complete in Microsoft Word**

Question 1) Bango, Inc. for the year ending December 31, 2018

a). prepare an Income Statement

b). Statement of Retained Earnings

c). Balance Sheet

**Hints Each account is only used once per financial statement. All accounts are used. Total Assets = 305,000

The only two administrative expenses are Supplies and Insurance. The rest of the expenses are selling expenses. Accumulated Depreciation     10,000 Sales Revenue 400,000 Notes Payable     50,000 Sales Discounts     10,000 Cash 200,000 Cost of Goods Sold 290,000 Machine     45,000 Salaries Expense     40,000 Common Stock 120,000 Rent Expense     12,000 Accounts Payable     20,000 Advertising Expense       5,000 Accounts Receivable     30,000 Salaries Payable     12,000 Merchandise Inventory     15,000 Supplies Expense       1,000 Truck     25,000 Insurance Expense       4,000 Beginning Retained Earnings     75,000 Interest Expense       2,000 Dividends       8,000

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