The adjusted trial balance columns of the worksheet for Eagle Company, owned by Jeff Spiegel, are as follows.

Eagle Company Worksheet For the Year Ended December 31, 2014 Adjusted Mecount Trial Balance eNO. Account Titles Dr. Cr.
101 Cash 5,300 iP Accounts Receivable 10,800 126 Supplies 1,500 130 Prepaid Insurance 2,000 151 Equipment 27,000 2 Accumulated Depreciation—Equipment 5,600 200 Notes Payable 15,000 201 Accounts Payable 4,600 PAG? Salaries and Wages Payable 2,400 230) Interest Payable 600 2m iil Common Stock 10,000 320 Retained Earnings 4,200 Ban Dividends 5,000 400 Service Revenue 59,000 610 Advertising Expense 8,400 631 Supplies Expense 4,000 Wl Depreciation Expense 5,600 VAD Insurance Expense 3,200 726 Salaries and Wages Expense 28,000 905 Interest Expense 600 Totals 101,400 101,400 Instructions

(a) Complete the worksheet by extending the balances to the financial statement columns.

(a) Net income $9,200

(b) Prepare an income statement, a retained earnings statement, and a classified balance (4) Current assets $19,600;
sheet. (Note: $3,000 of the notes payable become due in 2015.) Current liabilities $10,600

(c) Prepare the closing entries. Use J14 for the journal page.

(d) Post the closing entries. Use the three-column form of account. Income Summary is No. 350.

(e) Post-closing trial balance

(e) Prepare a post-closing trial balance. $46,600