a. PPSS owed $8,000 in wages to the office receptionist and three assistants for working the last 10 days in December. The employees will be paid in early next year. b. On October 1 of the current fiscal year, PPSS received $25,500 from customers who prepaid pool cleaning service for one year beginning on November 1 of the current year. c. The company received a $570 utility bill for December utility usage. It will be paid early next year. d. PPSS borrowed $79,500 from a local bank on August 1, signing a one-year, 10 percent note. The note and interest are due on August 1 of next year. e. On December 31, PPSS cleaned and winterized a customer's pool for $850, but the service was not yet recorded on December 31. f. On November 1 of the current fiscal year, PPSS purchased a two-year insurance policy for $3,000, with coverage beginning on that date. The amount was recorded as Prepaid Expenses when paid. g. On December 31, PPSS had $3,700 of pool cleaning supplies on hand after purchasing supplies costing $25,900 during the year from Pool Corporation, Incorporated. h. PPSS estimated that depreciation on its buildings and equipment was $8,800 for the year. i. At December 31, $160 of interest on investments was earned that will be received in the next year. j. The company's income tax rate for the year was 22 percent. Prepare a statement of stockholders' equity. Note: Do not round intermediate calculations. \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Penny's Pool Service \& Supply, Incorporated } \\ \hline \multicolumn{2}{|c|}{ Balance Sheet } \\ \hline \multicolumn{2}{|c|}{ On December 31} \\ \hline \multicolumn{2}{|c|}{ Assets } \\ \hline \multicolumn{2}{|l|}{ Current Assets: } \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline Total current assets & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline Net property and equipment & \\ \hline Total Assets & \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Liabilities and Stockholder's Equity } \\ \hline Current Liabilities: & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline Total current liabilities & \\ \hline & \\ \hline & \\ \hline Total liabilities & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Penny's Pool Service \& Supply, Incorporated } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline For the Year Ended December 31 \\ \hline Operating revenues: & \\ \hline & \\ \hline Operating expenses: & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{PennysPoolService&Supply,IncorporatedTrialBalanceonDecember31(endoffirstyearofoperations)UnadjustedTrialBalance} \\ \hline & Debit & Credit \\ \hline Cash & 33,765 & \\ \hline Short-term investments & 5,500 & \\ \hline Accounts receivable & 5,700 & \\ \hline Interest receivable & & \\ \hline Supplies & 25,900 & \\ \hline Prepaid expenses & 6,800 & \\ \hline Land & 18,500 & \\ \hline Equipment & 83,000 & \\ \hline Buildings & 72,500 & \\ \hline \multicolumn{3}{|l|}{ Accumulated depreciation } \\ \hline Accounts payable & & 4,600 \\ \hline Wages payable & & 450 \\ \hline \multicolumn{3}{|l|}{ Utilities payable } \\ \hline Unearned revenue & & 25,500 \\ \hline \multicolumn{3}{|l|}{ Interest payable } \\ \hline \multicolumn{3}{|l|}{ Income taxes payable } \\ \hline Notes payable (current) & & 4,500 \\ \hline Notes payable (non-current) & & 79,500 \\ \hline Common Stock & & 250 \\ \hline Additional paid-in capital & & 61,300 \\ \hline \multicolumn{3}{|l|}{ Retained earnings } \\ \hline Pool cleaning revenue & & 128,680 \\ \hline Interest revenue & & 95 \\ \hline Advertising expense & 3,100 & \\ \hline Wages expense & 46,500 & \\ \hline \multicolumn{3}{|l|}{ Supplies expense } \\ \hline Repairs expense & 360 & \\ \hline Utilities expense & 2,600 & \\ \hline \multicolumn{3}{|l|}{ Insurance expense } \\ \hline \multicolumn{3}{|l|}{ Depreciation expense } \\ \hline Property tax expense & 650 & \\ \hline \multicolumn{3}{|l|}{ Interest expense } \\ \hline Income taxes expense & & \\ \hline Totals & 304,875 & 304,875 \\ \hline \end{tabular}