mework Soner Required information [The following information applies to the questions displayed below.) The December 31, Year 1, adjusted trial balance for a company is presented below. Credit Debit $ 11,200 142,000 5,200 26,000 320,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $127,000 11,200 10,200 4,200 32,000 220,000 52,000 420,000 320,000 16,000 32,000 4,200 $876,600 $876,600 Required: 1. Prepare an income statement for the year ended December 31, Year 1. Income Statement For the Year Ended December 31, Year 1 Expenses: Total expenses