The adjusted trial balance for Speedy Courier as of December 31, 2018, follows.

Required

1. Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31, 2018; (b) the statement of retained earnings for the year ended December 31, 2018; and (c) the balance sheet as of December 31, 2018.

2. Compute the profit margin for year 2018 (use total revenues as the denominator).

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Debit Credit $ 58,000 Cash Accounts receivable 120,000 Interest receivable . Notes receivable (due in 90 days) Office supplies... 7,000 210,000 22,000 Trucks ... 134,000 $ 58,000 Accumulated depreciation-Trucks Equipment ... 270,000 200,000 Accumulated depreciation-Equipment Land ... 100,000 134,000 Accounts payable Interest payable . 20,000 Salaries payable 28,000 120,000 Uneamed delivery fees Long-term notes payable 200,000 Common stock ... 15,000 Retained eamings, December 31, 2017 110,000 Dividends .. 50,000 Delivery fees earned 611,800 34,000 Interest earned Depreciation expense-Trucks. Depreciation expense-Equipment 29,000 48,000 Salaries expense 74,000 Wages expense 300,000 Interest expense 15,000 Office supplies expense Advertising expense Repairs expense-Trucks 31,000 27,200 35,600 $1,530,800 $1,530,800 Totals....