You are provided with the following information for Rapp Corpora

| September 29, 2018

You are provided with the following information for Rapp Corporation, effective as of its April 30, 2012, year-end.Accounts payable …………..…………… $ 2,100Accounts receivable ……………………….. 9,150Accumulated depreciation-equipment ….…. 6,600Depreciation expense ……………………… 2,200Cash ………………………………………. 21,955Common stock …………………………….. 20,000Dividends …………………………………… 2,800Equipment …………………………………. 24,250Sales revenue ………………………………. 21,450Income tax expense ………………………….. 1,600Income taxes payable ………………………….. 300Interest expense ……………………………….. 350Interest payable ……………………………….. 175Notes payable (due in 2016) ………………… 5,700Prepaid rent …………………………………… 380Rent expense …………………………………. 760Retained earnings, beginning ……………… 13,960Salaries and wages expense …………………. 6,840Instructions(a) Prepare an income statement and a retained earnings statement for RappCorporation for the year ended April 30, 2012.(b) Prepare a classified balance sheet for Rapp as of April 30, 2012.(c) Explain how each financial statement interrelates with the others.

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