Concord Company Worksheet For the Year Ended December 31, 2019 Income Statement Balance Sheet Account Account Titles 112 Accounts Receivable 10.900 130 Prepaid Insurance 3,000 157 Equipment 23,700 158 Accumulated Depreciation-Equip. 201 Accounts Payable 212 Salaries and Wages Payable 311 Commonstock 320 Retained Earnings 7,100 332 Dividends 400 Service Revenue 60,500 622 Mairitenance and Repairs Expense 1,500 711 Depreciation Expense 3,000 722 Insurance Expense 1,600 726 Salaries and Wages Expense 732 Utilities Expense Totals Net income Concord Company Income Statement For the Month Ended December 31, 2019 Revenues Expenses $ Total Expenses Net Income / (Loss) Prepare a retained earnings statement. (List items that increase retained earnings first.) Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue Income Summary (To close revenue account.) Dec. 31 Income Summary Salaries and Wages Expense Depreciation Expense (To close expense accounts.) Dec. 31 Income Summary Retained Earnings (To close net income / (loss).) Dec. 31 Retained Earnings Dividends (To close dividends.) Retained Earnings No. 320 Dividends No. 332 Income Summary No. 350 Service Revenue No. 400 Maintenance and Repairs Expense No. 622 Depreciation Expense No. 711 Insurance Expense No. 722 Salaries and Wages Expense No. 726 Utilities Expense No. 732 PreDare a dost-closing trial balance