Instructor Inc.
Adjusted Trial Balance
For the Fiscal Year Ended December 31, 2021
Cash	$ 28,250
Accounts Recivable	$ 75,000
Inventory	$ 220,000
Prepaid Expenses	$ 9,000
Plant Assets	$ 600,000
Accumulated Depreciation-Plant Assets		$ 150,000
Accounts Payable		$ 123,000
Salary and Wages Payable		$ 47,250
Interest Payable		$ 27,000
Bonds Payable		$ 70,000
Common Stock $10 Par		$ 370,000
Retained Earnings		$ 15,000
Sales Revenue		$ 1,255,250
Cost of Goods Sold	$ 722,000
Salaries and Wage Expense	$ 252,100
Interest Expense	$ 75,000
Deprciation Expense	$ 25,000
Insurance Expense	$ 8,150
Income Tax Expense	$ 43,000
Totals	$ 2,057,500	$ 2,057,500
Other information
1. All sales were made on account
2. All merchandise was purchased on account, comprising the total accounts payable account
3. Plant assets costing $98,000 were purchased by paying $28,000 in Cash and issuing 7,000 Shares of Stock
4. Income taxes were paid during the year
5. 2,000 Shares of common stock were issued
6. Cash dividends of 105,000 were declared and paid by the end of the year
Prepare the following report:
Income Statement