Fict alarxpnveue earned 104 000 2.000 352.000 $2.000 a. Prepare an Iao n satement and statement of retained earnings for the year ended December 31, 2015. Also thecompany appear to be liquid? Defend your answer anes epb.es s erp b. Does the co prepare the company's balance sheet dated December 31,2015 c. Has the company been profitable in the past? Explain. Wilderness Guide Services, Ine, performs adjusting entries every ony at year-end. The company's year-end adjusted trial balance Los-6 dated December 31,2015,follows: ent WILDERNESS GUIDE SERVICES, INC. ADJUSTED TRIAL BALANCE DECEMBER 31, 2015 Cash s 12,200 31,000 Unexpired insurance policies.. 7,900 2,400 70.000 60.000 Equipment Accumulated depreciation: equipment .. Notes payable (due 4/1/16) .. .. 18,000 9,500 25,000 nts payable Capital stock 1.000 15,000 102,000 Salary expense Camping supply expense.... Lont G 87,500 1,200 9,600 5,000 1,700 $229,500 $229,500 Prepare an income statement and statement of retained earnings for the year ended December 31, 2015. Also prepare the company's balance sheet dated December 31,2015. (Hint: Unprofit- able companies have no income taxes expense.) Does the company appear to be liquid? Defend your answer. Has the company been profitable in the past? Explain. a. b. c