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Below is the Adjusted Trial Balance of Speedee Delivery Services, Inc. as of 12/31/20: Speedee Delivery Services, Inc. Adjusted Trial Balance 12/31/20 DR CR Cash

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Below is the Adjusted Trial Balance of Speedee Delivery Services, Inc. as of 12/31/20: Speedee Delivery Services, Inc. Adjusted Trial Balance 12/31/20 DR CR Cash 132,000 Accounts Receivable 17.500 Prepaid Insurance 12,000 Inventory 20,000 Vehicles 200,000 Accumulated Depreciation 40,000 Accounts Payable 2,500 Wages Payable 3,200 Deferred Revenue 1,000 Note Payable (Due on 12/31/27) 100,000 Common Stock 40,000 Retained Earnings 49.400 Service Revenue 780,000 Wages Expense 520,500 Depreciation Expense 10,000 Rent Expense 12.000 Utilties Expense 9,600 Interest Expense 4,000 Fuel Expense 78,500 Totals 1,016,100 1,016,100 PART A: Calculate Net Income for the year ended December 31, 2020: (3 points) Show the details for your calculation PART B: Calculate the balance in the 12/31/20 Retained Earnings account AFTER closing entries are prepared and posted. (3 points) Show the details for your calculation PART C: Prepare a classified balance sheet for Speedee Delivery Services, Inc. as of the year ended December 31, 2020. Include the proper statement heading. (13 points) Edit Format Table

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