Based on these, complete a formal income statment and classified balence sheet for the calender year 2018

3D DEBIT CREDIT 50,000 50,000 10.000 1 Invested $50,000 to start the corporation Cash Common stock 2 Purchased $10,000 of supplies on account Supplies Account Payable 3 Sold $200,000 of services, 50% on account Cash Accounts Receivable Revenue 10,000 5 100.000 100,000 200.000 0 4 Paid wages of $100.000 11 Wage Expense -2 Cash 100,000 100.000 257 50,000 24 5 Purchased company vehicle. Cost $50,000. 20% down payment borrowed remainder from the bank 26 Vehicle 27 Cash 28 Note payable 29 30 6 Collected $50.000 from customers on account 31Cash 32 Accounts receivable 10,000 40,000 50.000 50,000 34 7 Paid rent of $30,000; Insurance of $20,000 Rent Expense 35 Insurance Expense Cash 30,000 20.000 50.000 38 20.000 20,000 39 8 Paid the bank 50% of what is owed them 40 Note payable 411 Cash 42 43 9 Sold additional services on account. $25,000 44 Accounts receivable Revenue 46 47 10 Invested additional $50,000 into the corporation 48 Cash Common stock 25,000 45 25,000 50,000 50,000 0888 Total Debits = Total Crec 605.000 605.000 Alignment Number OR CREDIT CASH debit 50.000 100,000 50 000 50.000 COMMON STOCK: debit credt $50,000 1 $50.000 10 credit 100,000 4 10,000 5 50,000 7 20.000 8 50.000 10 $100,000 End Balance 10.000 totals End Balan 250.000 70.000 180,000 ACCOUNTS RECEIVABLE debit credit 100.000 50,000 6 25,000 SUPPLIES debit 10,000 credit 200.000 125.000 75,000 50.000 totals End Balani End Balar 10.000 100,000 ACCOUNTS PAYABLE debit credit 10.000 2 WAGE EXP debit 100,000 10,000 40,000 10,000 End Balan End Balan 100.000 VEHICLE credit 50.000 50,000 RENT EXP- debit 30.000 End Balan 50,000 30,000 End Balan NOTE PAYABLE debit credit 20,000 40,000 5 50,000 INSURANCE EXP.. debit 20.000 20,000 20.000 End Balan End Balan : 20,000 25,000 REVENUES.... debit credit 200,000 3 25,000 9 225,000 End Balance 50,000 605,000 Preparing a Trial Balance you didn't have to do just wanted to show how it works) TRIAL BALANCE DEBIT CREDIT CASH 70,000 COMMON STOCK $100.000 TRIAL BALANCE DEBIT CREDIT CASH 70.000 COMMON STOCK $100.000 SUPPLIES 10,000 ACCOUNTS RECEIVAB 75,000 ACCOUNTS PAYABLE 10.000 WAGE EXPENSE 100 000 VEHICLE 50 000 ACCUMULATED DEPRECIATION 10,000 RENT EXPENSE 40,000 INSURANCE EXPENSE 20.000 NOTE PAYABLE (long-t 20,000 DEPRECIATION EXP 10.000 REVENUES 235.000 TOTALS 375,000 375.000 YES, the TRIAL BALANCE balances (total debits = total credits)