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Indigo Remodelers was founded by Thomas Tyler in January 2011. Presented below is the adjusted trial balance as of December 31, 2020. INDIGO REMODELERS ADJUSTED

Indigo Remodelers was founded by Thomas Tyler in January 2011. Presented below is the adjusted trial balance as of December 31, 2020.

INDIGO REMODELERS ADJUSTED TRIAL BALANCE DECEMBER 31, 2020

Dr.

Cr.

Cash $23,000
Accounts Receivable 17,500
Supplies 2,000
Prepaid Insurance 1,500
Equipment 60,000
Accumulated DepreciationEquipment $35,000
Accounts Payable 3,000
Interest Payable 100
Notes Payable 6,000
Unearned Service Revenue 5,700
Salaries and Wages Payable 2,400
Common Stock 12,000
Retained Earnings 5,000
Service Revenue 67,000
Salaries and Wages Expense 11,600
Insurance Expense 800
Interest Expense 600
Depreciation Expense 7,000
Supplies Expense 3,700
Rent Expense 8,500

$136,200

$136,200

Prepare an income statement for the year ending December 31, 2020.

Prepare a statement of retained earnings for the year ending December 31, 2020. (List items that increase retained earnings first.)

Prepare an unclassified balance sheet at December 31. (List assets in order of liquidity.)

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