Exercise 3-10 Preparing Financial Statements from a Trial Balance LO P6

Following are the accounts and balances from the adjusted trial balance of Stark Company.

Notes payable$29,000 Accumulated depreciation-Buildings$33,000 Prepaid insurance 4,300 Accounts receivable 7,600 Interest expense 860 Utilities expense 3,100 Accounts payable 10,500 Interest payable 820 Wages payable 2,200 Unearned revenue 1,700 Cash 46,000 Supplies expense 560 Wages expense 9,300 Buildings 220,000 Insurance expense 3,600 Stark, Withdrawals 12,000 Stark, Capital 132,800 Depreciation expense-Buildings 11,000 Services revenue 110,000 Supplies 1,700

Prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, and (3) balance sheet at December 31. The Stark, Capital account balance was $132,800 on December 31 of the prior year.