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Mint Cleaning Incorporated prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. (Assume amounts are
Mint Cleaning Incorporated prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. (Assume amounts are reported in thousands of dollars.) Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and Wages Expense Supplies Expense Income Tax Expense Totals Debit $ 56 Credit 5 8 116 $ 0 5 0 111 12 129 28 44 0 $ 257 $ 257 Other data not yet recorded at December 31: a. Insurance expired during the year, $6. b. Depreciation expense for the year, $5. c. Salaries and wages payable, $8. d. Income tax expense, $10. Required: Using the adjusted balances, prepare an income statement for the year ended December 31. (Enter your answers in thousands, not in dollars (i.e., 10,000 should be entered as 10).)
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