M4-14 through M4-17 (Algo) Reporting an Income Statement, Reporting a Statement of Retained Earnings, Reporting a Balance Sheet and Recording Closing Journal Entries [LO 4-4, LO 4-5] [The following information applies to the questions displayed below.] The Sky Blue Corporation has the following adjusted trial balance at December 31. Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock. Retained Earnings Dividends Sales Revenue Rent Revenue Debit $ 1,400 Credit 3,700 4,000 4,700 20,500 $ 6,000 7,120 1,850 4,600 940 4,100 1,680 470 57,330 470 Salaries and Wages Expense 25,000 Depreciation Expense 3,000 Utilities Expense. 5,920 Insurance Expense 3,100 Rent Expense Income Tax Expense Total 7,700 4,600 $ 84,090 $ 84,090