Indigo Corporations unadjusted trial balance at December 1, 2017, is presented below.

Prepare a 2017 retained earnings statement

536.000 D 136.000 2.730 colo Deoreciation Building 52.200 Strand Hot Pic - Home Plan 2013 . 1.200 sas. Badet Deprecio O 0 D 1.000 SL 1 SL1 The following transactions occurred during December. Dec. 2 Purchased equipment for $17,400, plus sales taxes of $1,200 (paid in cash). 2 Indigo sold for $3,600 equipment which originally cost $5,400. Accumulated depreciation on this equipment at January 1, 2017, was $1,800; 2017 depreciation prior to the sale of equipment was $490. Indigo sold for $5,050 on account inventory that cost $3,490. Salaries and wages of $6,770 were paid. 15 23 Adjustment data: 1. 2. 3. 4. 5. 6. Indigo estimates that uncollectible accounts receivable at year-end are $3,840. The note receivable is a one-year, 8% note dated April 1, 2017. No interest has been recorded. The balance in prepaid insurance represents payment of a $3,900, 6-month premium on September 1, 2017. The building is being depreciated using the straight-line method over 30 years. The salvage value is $31,500. The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost. The equipment purchased on December 2, 2017, is being depreciated using the straight-line method over 5 years, with a salvage value of $1,980. The patent was acquired on January 1, 2017, and has a useful life of 9 years from that date. Unpaid salaries at December 31, 2017, total $2,010. Both the short-term and long-term notes payable are dated January 1, 2017, and carry a 10% interest rate. All interest is payable in the next 12 months. Income tax expense was $13,700. It was unpaid at December 31. 7. 8. 9. 10 home 1.200 ... Padre INDIGO CORPORATION Assets Liabilities and Stockholders' Equity