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Required information (The following information applies to the questions displayed below.) The December 31, Year 1, adjusted trial balance for a company is presented below. The December 31, Year 1, adjusted trial balance for a company is presented below. Credit Credit Debit $ 10,600 136,000 4,600 23,000 260,000 Debit $ 10,600 136,000 4,600 23,000 260,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $121,000 10,600 9,600 3,600 26,000 160,000 46,000 360,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $121,000 10,600 9,600 3,600 26,000 160,000 46,000 360,000 260,000 13,000 26,000 3,600 $ 736,800 260,000 13,000 26,000 3,600 $736,800 $736,800 $736,800 Required: 1. Prepare an income statement for the year ended December 31, Year 1. Income Statement For the Year Ended December 31, Year 1 2. Prepare a statement of stockholders' equity for the year ended December 31, Year 1, assuming no common stock was issued during Year 1. Statement of Stockholders' Equity For the Year Ended December 31, Year 1 Expenses Common Stock Retained Earnings Total Stockholders Equity Balance at January 1 Less: Dividends Balance at December 31 Total expenses Required information [The following information applies to the questions displayed below.] The December 31, Year 1, adjusted trial balance for a company is presented below. Credit Debit $ 10,600 136,000 4,600 23,000 260,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $121,000 10,600 9,600 3,600 26,000 160,000 46,000 360,000 260,000 13,000 26,000 3,600 $736,800 $736,600 $736,800 3. Prepare a classified balance sheet as of December 31, Year 1. (Amounts to be deducted should be indicated by a minus sign.) Balance Sheet December 31, Year 1 Assets Liabilities Current assets: Current liabilities: Total current assets Total current liabilities Total liabilities Long-term assets Stockholders' Equity Total long-term assets Total assets Total stockholders' equity Total liabilities and stockholders' equity

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