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Blink-On Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Blink-On Company prepared the end-of-period spreadsheet (work sheet) at

Blink-On Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Blink-On Company prepared the end-of-period spreadsheet (work sheet) at March 31, 2008, the end of the current fiscal year - Based on the following spreadsheet prepare

An income statement

A statement of the owners equity for the year ended March 31, 2008 no additional investments made during the year

Blink-On Company

End of-Period Spreadsheet (Work Sheet)

For the Year Ended March 31, 2008

Unadjusted Trial Balance

Adjusted Trial Balance

Adjustments

Income Statement

Balance Sheet

Account Title

Dr.

Cr.

Dr.

Cr.

Dr.

Cr.

Dr.

Cr.

Dr.

Cr.

1

Cash

6300

6300

6300

2

Accounts Receivable

18900

(a) 3500

22400

22400

3

Prepaid Insurance

4200

(b) 2800

1400

1400

4

Supplies

2730

(c) 1600

1130

1130

5

Land

98000

98000

98000

6

Building

140000

140000

140000

7

Acc. Dept --Building

100300

(d) 1400

101700

101700

8

Equipmaent

100500

100500

100500

9

Acc. Dept --Equipmentt

85100

(e ) 3200

88300

88300

10

Accounts Payable

5700

5700

5700

11

Unearned Rent

2100

(g) 1200

900

900

12

Amanda Ayers, Capital

78100

78100

78100

13

Amanda Ayers, Drawing

5600

5600

5600

14

Fees Revenue

253700

(a) 3500

257200

257200

15

Salaries & Wages Expense

102500

(f) 1800

104300

104300

16

Advertising Expense

21700

21700

21700

17

Utilities Expense

11400

11400

11400

18

Repairs Expense

8850

8850

8850

19

Misc. Expense

4320

4320

4320

20

525000

525000

21

Insurance Expense

(b) 2800

2800

2800

22

Supplies Expense

(c ) 1600

1600

1600

23

Depr. Exp -- Building

(d) 1400

1400

1400

24

Depr. Exp -- Equipment

(e ) 3200

3200

3200

25

Salaries & Wages Payable

(f) 1800

1800

1800

26

Rent Revenue

(g) 1200

1200

1200

27

15500

15,500.00

534900

534900

159570

258400

375330

276500

28

Net Income

98830

98830

29

258400

258400

375330

375330

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