S2-9. (Learning Objective 5: Preparing and using a trial balance) Assume that Old Boardwalk reported the following summarized data at December 31, 20X6. Accounts appear in no particular order; dollar amounts are in millions.

Prepare the trial balance of Old Boardwalk at December 31, 20X6. List the accounts in their proper order. How much was Old Boardwalk’s net income or net loss?

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Other liabilities. $ 4 Revenues..... Cash 7 Other assets Expenses 20 Accounts payable.. Shareholders' equity....... 2 $33 14 2