M3-21 Preparing Financial Statements from a Trial Balance The following accounts are taken from Equilibrium Riding, Inc., a company that specialize EQUILIBRIUM RIDING, INC. Unadjusted Trial Balance At December 31 Account Name Debits Credits Cash 59,750 Accounts Receivable 3,300 Prepaid Insurance 4,700 Equipment 64,600 Land 23,000 Accounts Payable 29,230 Deferred Revenue 1,500 Notes Payable (long-term) 74,000 Common Stock 5,000 Retained Earnings 14,500 Dividends Service Revenue $ 35,700 Salaries and Wages Expense 3,900 Manteinance 410 Office Expense 270 Totals 159,930 $ 159,930