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The adjusted trial balance for Wisdom Company, as of December 31, 2019, is shown below: Wisdom...

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Accounting

The adjusted trial balance for Wisdom Company, as of December31, 2019, is shown below: Wisdom Company Adjusted Trial Balance Asat December 31, 2019 Dr Cr Accounts receivable 19,800 Machinery44,800 Cash 22,600 Accumulated depreciation - MachineryDepreciation expense - Machinery 2,000 21,000 Rental expense 44,000Salary expense 35,580 Electricity expense 2,400 Accounts payable3,500 Notes payable 30,000 Interest payable 3,980 Share Capital10,000 Retained earnings as at January 1, 2019 23,000 Marketingrevenue Dividends 20,000 110,000 Supplies Unearned marketingrevenue Supplies expense 35,000 1,250 28,250 Interest expenseRequired: 2,300 229,730 229,730

(a) Prepare the Income Statement of Wisdom Company for the yearended December 31, 2019. (b) Prepare the Statement ofRetained Earnings of Wisdom Company for the year ended December 31,2019. (c) Prepare the Statement of Financial Position ofWisdom Company as at December 31, 2019.

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