Jacksonville Financial Service Co. which specializes in appliance repair service, is owned and operated by Cindy Latty.

Unadjusted Trial Balance December 31,2010

	Debit balance	Credit balance
Cash	$10,200
Accounts receivable	$34,750
Prepaid insurance	$6,000
Supplies	$1,725
Land	$50,000
Building	$80,750
Accumulated depreciation-Building		$37,850
Equipment	$45,000
Accumulated depreciation-Equipment		$17,650
Accounts payable		$3,750
Unearned rent	$3,600
Cindy Latty, Capital		$103,550
Cindy Latty, Drawings	$8,000
Fees earned		$158,600
Salaries and Wages expense	$56,850
Utilities expense	$14,100
Adversiting expense	$7,500
Repair expense	$6,100
Miscelleneous Expense	$4,025

The data related to year ended adjustments are as follows:

a.	Depreciation of building for the year, $2,100
b.	Depreciation of equipment for the year, $3,000
c.	Accrued salaries and wages at Dec. 31, $800
d.	Unexpired insurance at Dec. 31, $1,500
e.	Fees earned but unbilled on Dec.31, $2,150
f.	Supplies on hand at Dec. 31, $600
g.	Rent unearned at Dec. 31, $1,500

Required:

Prepare Balance Sheet and Income and Expenditure Statement as at 31, 2010.