2(a-1) Prepare JKL Company's income statement for the year ended July 31, 2017. 2(a-2) Prepare JKL Company's statement of retained earnings for the year ended July 31, 2017. Note: Retained earnings at July 31, 2016, was $18,400, and the current-year dividends were $10,000. 2(b) Prepare JKL Company's the balance sheet as of July 31, 2017.

A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2017. The last two columns contain the adjusted trial balance as of the same date. Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accum. Depreciation office equip. Accounts payable Interest payable Salaries payable Unearned consulting fees Long-term notes payable Common stock Retained earnings Dividends Consulting fees earned Depreciation expense-Office equip. Salaries expense Interest expense Insurance expense Rent expense Office supplies expense Advertising expense Totals Unadjusted Trial Balance $ 103,690 10,000 18,400 7,840 80,000 $ 25,000 9,100 0 0 24,000 60,000 27,600 18,400 10,000 162,000 0 67,820 1,260 0 14,740 0 12,350 $ 326,100 $326,100 Adjusted Trial Balance $ 103,690 19,000 2,500 2,760 80,000 $ 34,000 26,000 3,000 11,000 12,000 60,000 27,600 18,400 10,000 183,000 9,000 78,820 4,260 5,080 14,740 15,900 29, 250 $ 375,000 $375,000 Account Adjustments Adjusted Trial Balance $ 103,690 Unadjusted Trial Balance $ 103,690 10,000 18,400 7,840 80,000 $ 25,000 9,100 19,000 2,500 2,760 80,000 $ 0 0 Cash Accounts receivable Office supplies Prepaid insurance Office equipment Accumulated depreciation Office equipment Accounts payable Interest payable Salaries payable Unearned consulting fees Long-term notes payable Common stock Retained earnings Dividends Consulting fees earned Consulting fees earned (Unearned fees adjusted) Depreciation expense-Office equipment Salaries expense Interest expense Insurance expense Rent expense Office supplies expense Advertising expense Totals 34,000 26,000 3,000 11,000 12,000 60,000 27,600 18,400 24,000 60,000 27,600 18,400 10,000 10,000 162,000 183,000 0 67,820 1,260 0 9,000 78,820 4,260 5,080 14,740 15,900 29,250 375,000 14,740 0 12,350 326,100 $ $ 326,100 $ 0 $ 0 $ 375,000 JKL COMPANY Income Statement For Year Ended July 31, 2017 Prepare JKL Company's statement of retained earnings for the year ended July 31, 2017. Note: Retained earnings at July 31, 2016, was $18,400, and the current-year dividends were $10,000. JKL COMPANY Statement of Retained Earnings For Year Ended July 31, 2017 Retained earnings, July 31, 2016 Retained earnings, July 31, 2017 Prepare JKL Company's the balance sheet as of July 31, 2017. JKL COMPANY Balance Sheet July 31, 2017