Tarech Company Engaged In Activities During The First Year Of

Tarech Company engaged in activities during the first year of its operations that resulted in the following: service revenue, $4,800; expenses, $2,450; and withdrawals, $410. In addition, the year-end balances of selected accounts were as follows: Cash, $1,890; Other Assets, $1,000; Accounts Payable $450; and Owner’s Capital, $500. In proper format, prepare the income statement, statement of retained earnings, and balance sheet for Tarech Company (assume the year ends on December 31, 2010).

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