Credit 9,940 Adjusted Trial Balance December 31, 2020 Acct. No. Account Debit 100 Cash $100,800 $ 104 Accounts receivable 196,000 105 Allowance for doubtful accounts 106 Inventory 224,000 Prepaid insurance 13,440 Land 32,060 Building 560,000 Equipment 168,000 Accumulated depreciation Accounts payable 204 Salaries payable 208 Deferred service revenue 210 Interest payable 240 Note payable 302 Common stock Retained earnings 35,000 210,000 12,600 5,600 1,400 420,000 518,000 33,600 20 14,000 310 400 402 510 1,400,000 70,000 512 Dividends Sales revenue Service revenue Costs of goods sold Salaries expense Repair expense Insurance expense Depreciation expense Interest expense Bad debt expense Totals 672,000 644,000 5,600 520 526 528 -40 10,080 36,960 33,600 5,600 $2,716,140 $2,716,140 542 a. Prepare the income statement for the year ended December 31, 2020. b. Prepare the statement of stockholders' equity for the year ended December 31, 2020. Assume that the common stock was issued prior to 2020. c. Prepare the balance sheet on December 31, 2020