Income Statement

Laver Co.

Income Statement

For the Year Ended December 31, 2012

Revenues

Service Revenues $68,000

Expenses

Salaries and wages expense $37,000

Rent expense 11,400

Utilities expense 3,400

Advertising expense 2,800

Total expenses 54,600

Net Income $13,400

Laver Co.

Retained Earnings Statement

For the Year Ended December 31, 2012

Retained earnings, January 1, 2012 $74,000

Add: Net income 13,400

87,400

Less: Dividends 6,000

Retained earnings, December 31, 2012 $81,400

Merck and Co.

Income Statement

For the Year Ended December 31, 2010

Revenues

Sales revenue $45,987

Expenses

Materials and production expense $18,396

Marketing and administrative expense 13,245

Research and development expense 10,991

Other expense 1,823

Tax expense 671

Total expense $45,126

Net income $861

Merck and Co.

Retained Earnings Statement

For the Year Ended December 31, 2010

Retained earnings, January 1, 2010 $41,405

Add: Net income 861

42,266

Less: Dividends 4,730

Retained Earnings, December 31, 2010...