financial accounting 11th edition

S2-10. (Learning Objective 5: Using a trial balance) Redberry's trial balance follows: LO 5 A1 D Redberry, Inc. Trial Balance 1 December 31, 20X6 2 3 Account Title 4 Cash 5 Accounts receivable 6 Supplies 7 Equipment 8 Land 9 Accounts payable 10 Note payable 11 Share capital 12 Retained earnings 13. Service revenue 14 Salary expense 15 Rent expense 16 Utilities expense 17 Total 18 Balance Debit Credit $ 5.000 12.000 2,000 26.000 50,000 S 20.000 31.000 8.000 7.000 62.500 27,000 4500 2,000 S 128.500 5 128.500 Compute these amounts for the business: 1. Total assets 2. Total liabilities 3. Net income or net loss during December