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Based on the Trial Balance below and the Statement of Retained Earnings create a Balance Sheet Statement:

ACCT #	Account Name		Debit		Credit
1000	Cash		$402,575
1030	Treasury Bills		$100,000
1031	Municiple Bonds		$104,425
1032	Investments		$770,500
1210	Accounts Receivable		$30,000
1400	Inventory		$20,000
1500	Furniture and Fixtures		$0
1599	Accumulated Depreciation				$30,000
2000	Accounts Payable		$40,000
3000	Common Stock				$0
3500	Retained Earnings		$65,000
4000	Gross Sales				$3,900,000
4100	Sales Returns		$20,000
5000	Cost of Goods Sold		$1,080,000
6000	Legal and Professional Fees		$20,000
6020	Advertising Expense		$50,000
6080	Charitable Contributions		$79,000
6150	Premiums on Key Person Life Insurance Policy		$45,500
6500	Rent Expense		$120,000
6600	Employee Wages		$150,000
6601	Officer Salaries		$400,000
7010	Interest Income: Taxable				$10,000
7011	Interest Income: NonTaxable				$7,000
7020	Dividend Income				$30,000
8100	Depreciation		$30,000
8200	Interest Expense		$50,000
9000	Federal Income Tax Expense		$360,000
9010	State Income and Payroll Taxes Paid		$40,000
			$3,977,000		$3,977,000
Statement of Retained Earnings
For the Year Ending December 31, 2019
Retained Earnings, Jan. 1		$ 650,000
Add: Net Income		$ 1,627,000
		$ 2,277,000
Less: Dividends		$ (1,692,000)
Retained Earnings, Dec. 31		$ 585,000

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