I just need someone to look over this and make sure it is correct!

Insert image of your assigned Adjusted Trial Balance HERE: Credit Elaine, Inc. December 31, 2017 Adjusted Trial balance Debit Cash Accounts Receivable 25,000 38.900 Allowance for Doubtful Accounts 2,000 Short Term Note Receivable 50,000 Interest Receivable 1,350 Supplies 5,000 Prepaid Insurance 50,000 Inventory 6,500 Vehicle 16,000 Equipment 39,000 Accumulated Depreciation 15,000 Accounts Payable 20,000 Unearned Revenue 14,000 Wages Payable 2,000 Long-Term Notes Payable 50,000 Common Stock 110,000 Retained Earnings (1/1/2017) 2,500 Dividends 2,000 Sales 519,500 Sales Returns & Allowances 10,000 Sales Discounts 3,000 Cost of Goods Sold 55,500 Delivery Expense 5,000 Depreciation Expense 19,000 Bad Debt Expense 2,600 Rent Expense 100,000 Insurance Expense 25,000 Wages Expense 195,000 Supplies Expense 16,000 Interest Revenue Loss on Disposal 7,000 Interest Expense 4,500 Income Tax Expense 40,000 Total 736,350 736,350 ALL PAGES OF THIS DOCUMENT MUST BE UPLOADED TO D2L 5 Part 2a: Prepare a Multi-step Income Statement Chapter 5. You may not need to use all the lines provided. Note: The two columns (Be sure to include all the necessary headings, totals and subtotals as outlined in the Income Statement, use the right column for subtotals and totals.) below do not represent debit and credit balances like they do on a trial balance. On Elaine Inc. Income Statement Year Ended Dec. 31, 2017 519500 ID OOO 3DDO SO 6600 55500 461000 S000 19000 Sales Sales Revenue Less: Sales Returns + Allowances Sales Discounts Net Sales Cost of Goods sold Gross Profit Operating expenses Delivery expenses Depreciation Expense Bad Bebr Experise Rent expense Insurance Expense wages Expense Supplies Expenje Total Operating expenses Income from operations Other Benenses and Gains Interest Revenue Other Expenses and Losses Interest Expense Loss on Disposal Income Before taxes Income Tax Expense Net Income ZuDD 1000 DO 26000 1950OD 16000 3626oo 88400 1350 1350 4500 1000 11600 78250 40000 38250 ALL PAGES OF THIS DOCUMENT MUST BE UPLOADED TO D2L Part 2b: Prepare a statement of Retained Earnings. Elaine Inc. Statement of Retained Earnings Year Ended Dec. 31, 2017 Brainning Balance Add: Net income Less: Dividends Ending balance 2.500 382.5D 2000 38100 ALL PAGES OF THIS DOCUMENT MUST BE UPLOADED TO D2L two columns below do not represent debit and credit balances like they do on a trial balance. On the and totals as outlined in Chapter 2. You may not need to use all of the lines provided. Note: The Part 2c: Prepare a classified Balance Sheet (Be sure to include all the necessary subtotals Balance Sheet, use the right column for subtotals and totals.) SleuneInc. Balance Sheet As of Dec. 31, 2017 4.GODD 38900 200D 50000 150 S000 SOOD 6500 198750 39000 16000 ISDOO DODO 1268750 Current Assets Cash Accounts Receivable Less: Allowana for Doubtful Acc Short Term NOKC Receivable Interest Receivable Supplies Prepaid Insurance Inventory Total Current Assets Property, plant and equipment equipment Vehich LOSSE Accumulated Depreciation Total Property Plant and fquipment Total Assets Liabilities Current Liabilities, Accounts Payable Unearned Revenue Wages payable Total current liabilities Long Term Liabilities Long Term Notes payable Total Liabilities Stockholder's Equity common Stock Retained Earnings Total Stockholder's equiry Total Liabilities and Stockhdur's savity 20000 14000 2000 3leooo 50000 50000 81e0bo JOODD 38750 148750 1234750 ALL PAGES OF THIS DOCUMENT MUST BE UPLOADED TO D2L