Allied Packing Company Adjusted Trial Balance December 31, 2020
	Debits	Credits
Cash	$6,000
Accounts Receivable	12,600
Supplies	400
Prepaid Insurance Land	8,000 10,000
Equipment	20,000
Accumulated Depreciation Equipment		$ 7,000
Patents	10,000
Accounts Payable		4,000
Unearned Rent Revenue Interest Payable Salaries and Wages Payable Notes payable due in 2021		1,800 200 500 2,000
Bonds Payable due in 2024		10,000
Common Stock		22,000
Retained Earnings		17,500
Dividends	5,000
Service Revenue		68,000
Rent Revenue		11,000
Depreciation Expense	4,000
Salaries and Wages Expense	40,000
Utilities Expense	12,000
Supplies Expense	8,000
Insurance Expense	6,000
Interest Expense	2,000
	$144,000	$144,000

Instructions

(a) Prepare an income statement and a retained earnings statement for the month. (3 points)

(b) Prepare a classified balance sheet at December 31. (7 points)