13,500 preciation expense-Computers. Depreciation expense-Office furniture.. Salaries expense Insurance expense Rent expense Office supplies expense .. Advertising expense Utilities expense Total expenses. Net Income .... 3,800 1,600 1,850 15.750 1,400 3,800 580 2,500 1.335 28,815 $32.685 2,500 1.245 21.045 $33,455 Exercise 3-8 Preparing financial statements from a trial balance P6 Following are the accounts and balances (in random order) from the adjusted trial balance of stann Company. Prepare the (1) income statement and (2) statement of retained earnings for the year ended December 31 and (3) balance sheet at December 31. The Retained Earnings account balance was $14,800 on December 31 of the prior year. Notes payable... $11,000 Accumulated depreciation-Buildings............ $15,000 Prepaid insurance 2,500 Accounts receivable 4,000 Interest expense 500 Utilities expense.. 1,300 Accounts payable .... 1,500 Interest payable .... 100 Wages payable 400 Unearned revenue ... 800 Cash .......... ....*** ******* 10,000 Supplies expense.. 200 Wages expense .................. 7,500 Buildings ......... 40,000 Insurance expense ..... 1,800 Dividends .... 10,000 Depreciation expense-Buildings 3,000 Common stock ........ 14,800 Supplies 2.000 Retained earnings ............. 800 Services revenue ...... . . 20.000