CES Problem 4-2A The adjusted trial balance columns of the worksheet for Alshwer Company are as follows. Cr. Study Account No. 101 112 126 130 157 158 200 201 212 230 311 320 332 Alshwer Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000 Accumulated Depreciation-Equipment 5,600 Notes Payable 15,000 Accounts Payable 6,100 Salaries and Wages Payable 2,400 Interest Payable 600 Common Stock 10,000 Retained Earnings 3,000 Dividends 7,000 Service Revenue 61,000 Advertising Expense 8,400 Supplies Expense Depreciation Expense 5,600 Insurance Expense 3,500 400 610 631 4,000 711 722 722 726 905 Insurance Expense Salaries and Wages Expense Interest Expense Totals 3,500 28,000 600 103,700 103,700 Complete the worksheet by extending the balances to the financial statement columns Alchwer Company Worksheet tudy Adjusted Trial Balance Income Statement Balance Sheet Account No. Account Titles Dr. Dr. 101 Cash $5,300 112 Accounts Receivable 10.800 Supplies 1.500 Prepaid Insurance 2,000 157 Equipment 27,000 Accumulated Depreciation - Equipment 5,600 200 Notes Payable 15,000 Accounts Payable 6,100 Salaries and Wages Payable 2,400 Interest Payable 600 Common Stock 10,000 Retained Earnings 3,000 Dividends 7,000 Service Revenue 61,000 Advertising Expense 8.400 Supplies Expense 4,000 Depreciation Expense 5,600 Insurance Expense 3,500 Salaries and Wages Expense 28.000 905 Interest Expense 600 Totals 103,700 103,700 Net Income Totals SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g.-15 or parentheses e.g. (45).) Alshwer Company Income Statement SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT ady. Prepare a retained earnings statement. (List items that increase retained earnings first.) Alshwer Company Retained Earnings Statement ES Prepare a classified balance sheet. (Note: $5,000 of the notes payable become due in 2020.) (LISE LITER Alshwer Company Balance Sheet tudy Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity Prepare the closing entries. (Credit account titles are automatically indented when amount is en Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue account.) Dec. 31 (To close expense accounts.) Dec. 31 (To close net income / (loss).) IULIUS TIC CIRC (1 ) Dec. 31 (To close dividends.) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Post the closing entries. (Post entries in the order of journal entries presented in the previous part.) Retained Earnings Date Explanation Ref Debit Jan. 31 Balance No.301 Balance Credit Dec. 31 Closing entry J14 Dec. 31 Closing entry J14 Dividends Date Explanation Ref Debit Dec. 31 Balance No.306 Balance Credit Dec. 31 Closing entry J14 Income Summary Date Explanation Ref Debit No.350 Balance Credit Dec. 31 Closing entry J14 Dec. 31 Closing entry J14 Dec. 31 Closing entry J14 Service Revenue Date Explanation Ref Debit Dec. 31 Balance v No.400 Balance Credit Dec. 31 Closing entry J14 Advertising Expense Date Explanation Ref Debit Dec. 31 Balance V No.610 Balance Credit Dec. 31 Closing entry J14 Supplies Expense Date Explanation Ref Debit No.631 Balance Credit Dec. 31 Balance Dec. 31 Closing entry J14 Depreciation Expense No.711 No.711 Depreciation Expense Date Explanation Ref Debit Credit Balance Dec. 31 Balance Dec. 31 Closing entry J14 Insurance Expense Date Explanation Ref Debit No.722 Balance Credit Dec. 31 Balance No.726 Credit Dec. 31 Closing entry J14 Salaries and Wages Expense Date Explanation Ref Debit Dec. 31 Balance Dec. 31 Closing entry J14 Balance Interest Expense Date Explanation Ref Debit No.905 Balance Credit Dec. 31 Balance Dec. 31 Closing entry 314 SHOW LIST OF ACCOUNTS ES AISTIwer company Post-Closing Trial Balance Debit Credit udy Totals