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Question 4 The adjusted trial balance of Blossom Financial Planners appears below. Credit BLOSSOM FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2020 Debit Cash $2,850 Accounts Receivable 2,300 Supplies 1,800 Equipment 17,000 Accumulated Depreciation-Equipment Accounts Payable Uneared Service Revenue Common Stock Retained Earnings Dividends 1,300 Service Revenue Supplies Expense 400 Depreciation Expense 2,400 Rent Expense 3,150 $31,200 $4,250 3,550 4,850 10,000 4,450 4,100 $31,200 Using the information from the adjusted trial balance, you are to prepare for the month ending December 31: 1. An income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BLOSSOM FINANCIAL PLANNERS Income Statement For the Month Ended December 31, 2020 Revenues Service Revenue S 4100 Expenses Supplies Expense 400 Depreciation Expense 2400 Rent Expense 3150 Total Expenses 5950 Net Income / (Loss) (1850) 2. A retained earnings statement. BLOSSOM FINANCIAL PLANNERS Retained Earnings Statement For the Month Ended December 31, 2020 Retained Eamings, December 1 v 4450 Add Net Income / (Loss) (1850) Dividends 1300 550 Retained Eamings, December 31 S 3900 3. A balance sheet. (List Assets in order of liquidity.) BLOSSOM FINANCIAL PLANNERS Balance Sheet December 31, 2020 Assets Cash $ 2,850 Accounts Receivable 2,300 Supplies 1,800 Equipment $ 17,000 Less : Accumulated Depreciation- 4,250 12,750 Total Assets 19,700 Liabilities and Stockholders' Equity Liabilities Accounts Payable $ 3,550 Unearned Service Reve 4,850 Total Liabilities 8400 $ Stockholders' Equity Common Stock 10,000 Retained Earnings 3900 13900 Total Liabilities and Stockholders' Equity 22,300 Click if you would like to Show Work for this question: Open Show Work