Bechard Irrigation System Income Statement Year Ended December 31, 2018 Service Revenue $61,500 $500 $16,200 Expenses: Insurance Expense Salaries Expense Supplies Expense Interest Expense Depreciation Expense-Equipment Depreciation Expense-Building $900 $800 $2,300 $2,100 $22,800 $38.700 Total Expenses Net Income (Loss) Requirement 2. Prepare the company's statement of retained earnings for the year ended December 31, 2018. Enter any increases Choose from any list or enter any number in the input fields and then continue to the next question. Bechard Irrigation System Statement of Retained Earnings Year Ended December 31, 2018 Retained Earnings, January 1, 2018 Retained Earnings, December 31, 2018 Requirement 3. Prepare the company's classified balance sheet in report form at December 31, 2018. (If a box is not used in the balance sheet, Bechard Irrigation System Balance Sheet December 31, 2018 Assets Choose from any list or enter any number in the input fields and then continue to the next question Bechard Irrigation System Balance Sheet December 31, 2018 Assets Less Less: Choose from any list or enter any number in the input fields and then continue to the next question Read the requirements Less Liabilities ND Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next question Requirement 4. Journalize the closing entries for Bechard Irrigation System. (Record debits first, then credits. Select the explanation on the last Start by closing revenues. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (1) Close expenses for the period. Date Accounts and Explanation Debit Credit Dec. 31 Clos. (2) Choose from any list or enter any number in the input fields and then continue to the next question Close Income Summary Debit Accounts and Explanation Date Credit Dec 31 Clos (3) Close Dividends. Date Accounts and Explanation Debit Credit Dec 31 Clos (4) Requirement 5. Comnit tha mnany's nurant ratin at Derember 2001 At naramher 21 2017 the current ratin wae. 5 nithe name Clos (3) Close Dividends Debit Accounts and Explanation Date Crede Dec 31 Clos(4) Requirements. Compute the company's content ratio at December 31, 2018. A December 31, 2017, the current ratio was 25. Did the company many to pay the more or deteriorate Select the labelu then enter the amounts and compute the current 80. Cound your answers to decine Current Since the current was 25 one year ago Becharity to pay is current abilities Choose from any rere any number in the input fields and then continue to the next to Bechard Irrigation System Adjusted Trial Balance December 31, 2018 a label a Balance Account Title Debit Credit Cash 12,800 Accounts Receivable 45,700 7,600 6,500 57.100 $ 24,100 30,000 Office Supplies Prepaid Insurance Building Accumulated Depreciation-Building Equipment Accumulated Depreciation Equipment Accounts Payable Interest Payable Salaries Payable Unearned Revenue 7,900 27,100 800 4,000 1,100 Notes Payable (long-term) 30,500 21 000 Common Stark 30,000 Equipment Accumulated Depreciation-Equipment Accounts Payable 7,900 27.100 Interest Payable 800 Salaries Payable 4,000 Unearned Revenue 1,100 Notes Payable (long-term) 30,500 Common Stock 21,000 Retained Earnings 7,000 Dividends 2,500 Service Revenue 61,500 Insurance Expense 500 Salaries Expense 16,200 900 Supplies Expense Interest Expense Depreciation Expense-Equipment 800 2,300 2,100 Depreciation Expense-Building $ $ 185,000 $ 185,000 Total
