The accountant for Flenderson Roofing, Inc., posted adjusting entries

(a) through

(e) to the accounts at December 31, 2010. Selected balance sheet accounts and all the revenues and expenses of the entity follow in T-account form.

Requirements 1. Calculate balances in the accounts and use the appropriate accounts to pre¬ pare the income statement of Henderson Roofing, Inc., for the year-ended December 31, 2010. List expenses in order from largest to smallest.
2. Were the 2010 operations successful? Give the reason for your answer.

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Accounts Receivable 21,000 (e) 1,500 Supplies Accumulated 2,800 (a) 1,200 Depreciation, Equipment 5,600 Accumulated Depreciation, Building 28,000 (b) 1,400 (c) 2,000 Service Revenue 97,000 (e) 1,500 Salary Payable (d) 2,900 Salary Expense Supplies Expense Depreciation Expense, 14,000 (a) 1,200 Equipment (d) 2,900 (b) 1,400 Depreciation Expense, Building (c) 2,000