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BBB Co. Adjusted Trial Balance at the end of fiscal year December 31 is as follows. Credit Debit $ 8,700 16,500 2,000 198,000 $ 40,788

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BBB Co. Adjusted Trial Balance at the end of fiscal year December 31 is as follows. Credit Debit $ 8,700 16,500 2,000 198,000 $ 40,788 75,000 Account Title Cash Accounts receivable Office supplies Bus Accumulated depreciation-Bus Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Travel fees earned Depreciation expense-Bus Salaries expense Office supplies expense Repairs expense-Bus Totals 12,700 3,000 52,000 55, 288 139,000 19,000 118,500 26,308 55,577 10,000 10, 191 $ 421,276 $421,276 At December 31 of the prior yeear, the Retained Earnings balance was $139,000. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of retained earnings for the year ended December 31. (3) Prepare the classified balance sheet for the year ended December 31. Prepared a classified balance sheet. BBB Co. Balance Sheet December 31 Assets Current assets 0 Liabilities Liabilities Equity Total equity 0 0 $ 0

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