Coronado Design was founded by Thomas Grant in January 2011. Presented below is the adjusted trial balance as of December 31, 2020.

CORONADO DESIGN ADJUSTED TRIAL BALANCE

DECEMBER 31, 2020 Debit Credit

Cash $ 11,705

Accounts Receivable 22,205

Supplies 5,705

Prepaid Insurance 3,205

Equipment 60,705

Accumulated Depreciation-Equipment $ 35,705

Accounts Payable 5,705

Interest Payable 222

Notes Payable 7,400

Unearned Service Revenue 6,305

Salaries and Wages Payable 1,488

Common Stock 10,705

Retained Earnings 4,205

Service Revenue 62,205

Salaries and Wages Expense 12,005

Insurance Expense 1,038

Interest Expense 572

Depreciation Expense 9,400

Supplies Expenses 3,400

Rent Expense 4,000

$ 133,940 $ 133,940

(a1) Prepare an income statement for the year ending December 31, 2020.

(Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

CORONADO DESIGN Income Statement

choose the accounting period