S2-10. (Learning Objective 5: Using a trial balance) Redberry’s trial balance follows:

Compute these amounts for the business:
1. Total assets 2. Total liabilities 3. Net income or net loss during December

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1 1 2 3 Account Title 4 Cash 5 Accounts receivable 6 Supplies 7 Equipment 8 Land 9 Accounts payable 10 Note payable 11 Share capital 12 Retained earnings 13 Service revenue 14 Salary expense 15 Rent expense 16 Utilities expense 17 Total 18. Redberry, Inc. Trial Balance December 31, 20X6 Balance Debit Credit S 5,000 12.000 2.000 26.000 50,000 20,000 31.000 8,000 7,000 62,500 27.000 4.500 2.000 5 128.500 $ 128.500