Reference no: EM132782517

The adjusted trial balance of Leo Company for the year ended 30 June 2020 is as follows:

Leo Company Adjusted Trial Balance 30 June 2020

Cash 84,000

Accounts receivable 363,080

Prepaid insurance 10,000

Office supplies 880

Office machinery 198,400

Accumulated depreciation - Office machinery 41,040

Accounts payable 145,600

Wages and salaries payable 10,800

Unearned revenue 8,000

Long-term note payable 40,000

Share capital 160,000

Retained earnings 145,480

Dividends 4,000

Revenue earned 2,170,000

Depreciation expense - Office machinery 8,640

Advertising and promotion expense 60,000

Insurance expense 17,200

Office supplies expense 1,920

Repairs expense 114,000

problem 1. Prepare in income statement

problem 2. Prepare a statement of retained earnings

problem 3. Prepare a balance sheet