Credits $31,000 Con- 55,800 496,000 55,800 3,410,000 SPLISH CORPORATION TRIAL BALANCE DECEMBER 31, 2020 Debits Purchase Discounts Cash $588,070 Accounts Receivable 325,500 Rent Revenue Retained Earnings Salaries and Wages Payable Sales Revenue Notes Receivable 341,000 Accounts Payable Accumulated Depreciation-Equipment Sales Discounts 44,950 Sales Returns and Allowances 54,250 Notes Payable Selling Expenses 719,200 Administrative Expenses 306,900 Common Stock Income Tax Expense 167,090 Cash Dividends 139,500 Allowance for Doubtful Accounts Supplies 43,400 Freight-in 62,000 Land 217,000 151,900 86,800 217,000 930,000 15,500 MacBook Air SPUS CORPORATION TRAL BALANCE DECEMBER 2020 Debre ch o 0 306,900 930,000 167,090 139,500 15.500 Administrative Expenses Common Stock Income Tax Expense Cash Dividends Allowance for Doubtful Accounts Supplies Freight-in Land Equipment Bonds Payable Gain on Sale of Land Accumulated Depreciation--Buildings Inventory Buildings Purchases Totals 43.400 62.000 217,000 434.000 310,000 93,000 60.760 275.900 303,800 1891.000 $5.913,560 $5,913,560 A physical count of inventory on December 31 resulted in an inventory amount of $198.400, thus,cost of goods sold for 2020 is $1.999,500. Part 1 Prepare a single step income statement. 93,000 shares of common stock were outstanding the entire year. (Round earnings per share to 2 decimal places, s. 1.48.) SPLISH CORPORATION MacBook Air SPLISH CORPORATION Income Statement For the Year Ended December 31, 2020 MacBook Air ON 00 * SPUSH CORPORATION TRIAL BALANCE DECEMBER 31 Wk6 Prob Prepare a retained earnings statement. Assume that the only changes in retained earnings during dividends. (List items that increase retained earnings first.) SPLISH CORPORATION Retained Earnings Statement eTextbook and Media List of Accounts Save for Later Send to Gradebook MacBook Air