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Current Attempt in Progress The adjusted trial balance of Steven Co. as of December 31, 2022, contains the following Steven Co. Adjusted Trial Balance December
Current Attempt in Progress The adjusted trial balance of Steven Co. as of December 31, 2022, contains the following Steven Co. Adjusted Trial Balance December 31, 2022 Debit Credit Cash Accounts Receivable Prepaid Rent Equipment $20.507 7,955 3,315 19,085 Accumulated Depreciation-Equipment $5,930 Notes Payable 6,735 Accounts Payable Share Capital-Ordinary 6.507 21.035 Retained Earnings 12,345 Dividends 4,035 Service Revenue 12,625 Salaries and Wages Expense 7,875 Rent Expense 2,182 Depreciation Expense 223 Interest Expense 161 Interest Payable 161 $65,338 $65,338 Prepare an income statement for the year ending December 31, 2022. (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Revenues Service Revenue Expenses STEVEN CO. Income Statement For the Year Ended December 31, 2022 Salaries and Wages Expense 7.875 Rent Expense Depreciation Expense Interest Expense Total Expenses Net Income/(Loss) 2.182 223 161 $ 12,625 S 10.441 2,184 Prepare a retained earnings statement for the year ending December 31, 2022. (List items that increase retained earnings first STEVEN CO. Retained Earnings Statement For the Year Ended December 31, 2022 Retained Earnings, January 1 Add Net Income (Loss) Less Dividends Retained Earnings, December 31 C 69 69 12,345 2.184 14,529 4035 10.494 Prepare a classified statement of financial position. (List current assets in reverse order of liquidity.) Current Assets STEVEN CO. Statement of Financial Position For the Year Ended December 31, 2022 Assets Equity and Liabilities $ $
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