Reference no: EM132418905
Preparing Financial Statements
From the adjusted trial balance provided below please prepare:
a. Income Statement,
b. Statement of Retained Earnings and
c. the company's Balance Sheet for the year ended December 31st, current year
Cash 218,640
Accounts receivable 10,800
Supplies 720
Equipment 28,800
Accumulated depreciation equipment 12,000
Accounts Payable 3,600
Income taxes payable 8,400
Capital Stock 60,000
Retained earnings 108,000
Dividends 4,800
Lawn care revenue earned 230,400
Salary Expense 124,800
Supply Expense 2,880
Advertising Expense 720
Depreciation expense equipment 2,400
Income taxes expense 27,840
Total $ 422,400 $422,400