Income statement preparation

Southwest Business School Southwest Business School Adjusted Trial Balance December 31 2oxx For Year Ended December 31, 20xx Debit ($) 26.000 7.500 2.600 12.000 Credit (5) Cash Accounts receivable Teaching supplies Prepaid insurance Professional library 30.000 15,000 Accumulated depreciation Professional IbraryY Equipment 70,000 Accumulated depreciation Equipment 28,000 Salaries payable Unearned training fees Common stock Retained eamings Dividends Tuition fees eaned Training fees earned Depreciation expense Professional library Cepreciation expense Equipment Salaries expense Insurance expene Rent expense Teaching supplies expense Advertising expense Utlities expense Totals 400 6,600 53,600 109,500 40,000 42,400 6,000 12.000 48400 3,000 7 400 7.000 5600 301,500$301,500