Review of the Accounting Cycle Screen Corporation reported the following adjusted trial balance amounts at December 31:

a. Where are the adjusted trial balance totals found?

b. Which of the accounts presented in the trial balance represent permanent accounts? Which represent temporary accounts?

c. What amount of net income did Screen Corporation earn for the year?

d. If a trial balance were to be prepared at the start of business on January | of next year, determine the balance that would be reported in the trial balance for:
1. Cash.
2. Salary and wage expense.
3. Retained earnings. (Note that this amount is not reported in the December 31 trial balance.)

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Cash $ 50,000 Accounts receivable 160,000 Inventory 220,000 Buildings and equipment (net) 300,000 Accounts payable $100,000 Notes payable 300,000 Common stock Retained earnings Sales revenue 200,000 90,000 225,000