Laura Hall, D.D.S., opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1. 2. 3. Performed services for patients who had dental plan insurance. At January 31, $726 of such services was performed but not yet billed to the insurance companies. Utility expenses incurred but not paid prior to January 31 totaled $563. Purchased dental equipment on January 1 for $75,000, paying $22.000 in cash and signing a $53,000, 3-year note payable. (a) The equipment depreciates $426 per month. (b) Interest is $470 per month Purchased a one-year malpractice insurance policy on January 1 for $10.920. Purchased $1,611 of dental supplies. On January 31, determined that $540 of supplies were on hand. 5. Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation-Equipment, Depreciation Expense, Service Revenue, Accounts Receivable, Insurance Expense, Interest Expense, Interest Payable, Prepaid Insurance, Supplies, Supplies Expense, Utilities Expenses, and Accounts Payable. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2. The following balances were taken from the books of Wildhorse Corp. on December 31, 2020. Interest revenue $87,850 Accumulated depreciation-equipment Cash 52.850 Accumulated depreciation-buildings Sales revenue 1,381,850 Notes receivable Accounts receivable 151,850 Selling expenses Prepaid insurance 21,850 Accounts payable Sales returns and allowances 151,850 Bonds payable Allowance for doubtful accounts 8,850 Administrative and general expenses Sales discounts 46,850 Accrued liabilities Land 101,850 Interest expense Equipment 201,850 Notes payable Buildings 141,850 Loss from earthquake damage Cost of goods sold 622,850 Common stock Retained earnings $41,850 29,850 156,850 195,850 171,850 101,850 98,850 33,850 61,850 101,850 151,850 501,850 22.850 Assume the total effective tax rate on all items is 20%. Prepare a multiple-step income statement: 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.)