E3-11 (L04) (Prepare Financial Statements) The adjusted trial balance of Anderson Cooper Co. as of December 31, 2017, contains the following.

Instructions

(a) Prepare an income statement.

(b) Prepare a statement of retained earnings.

(c) Prepare a classified balance sheet.

Transcribed Image Text:

ANDERSON COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2017 Dr. Cr. Cash $19,472 Accounts Receivable 6,920 Prepaid Rent 2,280 Equipment 18,050 Accumulated Depreciation-Equipment $ 4,895 Notes Payable 5,700 Accounts Payable 5,472 Common Stock 20,000 Retained Earnings 11,310 Dividends 3,000 Service Revenue 11,590 Salaries and Wages Expense 6,840 Rent Expense 2,260 Depreciation Expense 145 Interest Expense 83 Interest Payable 83 $59,050 $59,050