make balance sheet and income statement

A trial balance on April 30, 2006, before recording any adjusting entries, appears as follows:

Duke Inc . UNADJUSTED TRIAL BALANCE

APRIL 30, 2006.

Debit Credit

Cash	$15,700
Prepaid Insurance	450
Office Supplies	250
Office Equipment	50,000
Accumulated Depreciation-Office Equipment		$ 5,000
Automobile	12,000
Accumulated Depreciation-Automobile		1,400
Accounts Payable		6,500
Unearned Commissions		9,500
Notes Payable		2,000
Capital Stock		10,000
Retained Earnings		40,000
Dividends	2,500
Commissions Earned		17,650
Utilities Expense	2,300
Salaries Expense	7,400
Advertising Expense	1,450
Totals	$92,050	$92,050

Other Data

a. The monthly insurance cost is $50.

b. Office supplies on hand on April 30, 2006, amount to $180.

c. The office equipment was purchased on April 1, 2005. On that date, it had an estimated useful life of 10 years.

d. On September 1, 2005, the automobile was purchased; it had an estimated useful life of 5 years.

e. A deposit is received in advance of providing any services for first-time customers. Amounts received in advance are recorded initially in the account Unearned Commissions. Based on services provided to these first-time customers, the balance in this account at the end of April should be $ 5,000.

f. Repeat customers are allowed to pay for services one month after the date of the sale of their property. Services rendered during the month but not yet collected or billed to these customers amount to $1,500.

g. Interest owned on the note payable but not yet paid amounts to $20.

h. Salaries owed to employees but unpaid at the end of the month amount to $2,500.

I tax obligation is neglected.

Required:

1. show the process of calculation of profit.
2. Complete balance sheet and income statement