Multi Step Income Statement

For the year ended December 31, 2017

(Be sure to include all the necessary headings, totals and subtotals as outlined in Chapter 5. You may not need to use all the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Income Statement, use the right column for subtotals and totals.)

Statement of Retained Earnings

For the year ended December 31, 2017

Classified Balance Sheet

December 31, 2017

(Be sure to include all the necessary subtotals and totals as outlined in Chapter 2. You may not need to use all of the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Balance Sheet, use the right column for subtotals and totals.)

King Company Adjusted Trial Balance December 31, 2017 DEBIT CREDIT 5,000 8,460 Cash Accounts Receivable Allowance for Doubtful Accounts Short term Note Receivable Interest Receivable Supplies Inventory Prepaid Expenses Equipment Accumulated Depreciation Copyrights Accounts Payable Interest Payable Unearned Revenue Long Term Note Payable Common Stock Paid-in-Capital In Excess of Par CS Retained Earnings (1/1/17) Dividends Sales Sales Returns & Allowances Sales Discounts Cost of Goods Sold Bad debt expense Depreciation Expense Amortization Expense Wages Expense Rent Expense Office Expense Supplies Expense Selling Expense Interest Expense Interest Revenue Income Tax Expense Totals 250 500 100 50 3,000 150 10,720 1,800 600 300 65 150 1,200 6,600 400 3,160 2,500 48,895 30 75 20,750 30 770 90 6,500 1,500 100 250 850 200 165 760 62,985 62,985