Financial statements.

The adjusted trial balance of Ryan Financial Planners appears below.

Using the information from the adjusted trial balance, you are to prepare for the month ending December 31, 2020:

1. an income statement.

2. a retained earnings statement.

3. a balance sheet.

Use Module 2 Part 5 - Slides 5 and 6

Remember, Assets = Liabilities + Stockholders Equity

RYAN FINANCIAL PLANNERS

Adjusted Trial Balance

December 31, 2020

Debit Credit

Cash .............................. $ 4,900

Accounts Receivable ......................................................................... 2,200

Supplies.............................................................................................. 1,800

Equipment .......................................................................................... 20,000

Accumulated DepreciationEquipment............................................ $ 5,000

Accounts Payable .............................................................................. 3,800

Unearned Service Revenue............................................................... 5,000

Common Stock................................................................................... 11,000

Retained Earnings ............................................................................. 4,400

Dividends............................................................................................ 2,000

Service Revenue................................................................................ 8,700

Supplies Expense .............................................................................. 600

Depreciation Expense........................................................................ 3,500

Rent Expense..................................................................................... 2,900 ______

$37,900 $37,900

Prepare the financial statements requested (you dont have to give me the financial statements but just enter the following answers above:

From the income statement:

From the Retained Earnings Statement: