103 112 171 300 Problem 6-5 The following data are for Leone Lumber Company: Prepare worksheet, classified LEONE LUMBER COMPANY income statement statement Trial Balance of retained earnings. December 31, 2018 classified balance sheet and Debits Credits closing entries (based on Acct. No. Account Title Appendix) (L0.5-8) $ 90,640 100 Cash 159.520 Accounts Receivable 285.200 Each account title 105 Merchandise Inventory, January 1, 2018 Supplies on Hand 5,360 must have its own 4.800 108 Prepaid Insurance Prepaid Rent 57600 entry/they can't 170 Equipment 88.000 be combined. The $ 17,600 Accumulated Depreciation Equipment 200 Accounts Payable 102.800 worksheet has to Capital Stock 220,000 310 Retained Earnings 17/18 219,640 have 12 columns Sales 1,122,360 (to include Sales Returns and Allowances 5.160 Interest Revenue 1,000 Retained 500 Purchases 500,840 502 Purchases Returns and Allowances 4.040 Earnings). The Transportation in 7,840 balance sheet Advertising Expense 78,000 Sales Salaries Expense 138,400 must be classified 509 Office Salaries Expense 80.800 510 Officers' Salaries Expense 160.000 Please label them 511 U s Expense 4.800 a. b. c. d. e. Thank 536 Legal and Accounting Expense 10.000 540 Interest Expense 600 you! Miscellaneous Administrative Expense 9880 $1.587.440 $1,687,440 412 503 506 508 Additional data 1. A total of $3,400 of the prepaid insurance has expired. 2. An inventory of supplies showed that $1,700 of inventory is still on hand. 3. Prepaid rent expired during the year is $50,600. 4. Depreciation expense on store equipment is $8,800. 5. Accrued sales salaries are $4,000. 6. Accrued office salaries are $3.000. 7. Merchandise inventory on hand is $350,000. Required Prepare the following: A work sheet for the year ended December 31, 2018. Refer to the chart of accounts shown in a separate file at the end of the text for any other account numbers you need. h A classified income statement. The only selling expenses are sales salaries, advertising, supplies, and depreciation expense equipment. c. A statement of retained earnings. d. A classified balance sheet. e. Required closing entries