On December 1, 2022, Wildhorse Co. had the account balances shown below.

		Debits				Credits
Cash		$4,870		Accumulated DepreciationEquipment		$1,620
Accounts Receivable		3,550		Accounts Payable		3,260
Inventory (2,900 x $0.60)		1,740		Common Stock		9,600
Equipment		20,700		Retained Earnings		16,380
		$30,860				$30,860

The following transactions occurred during December.

Dec. 3		Purchased 3,900 units of inventory on account at a cost of $0.73 per unit.
5		Sold 4,300 units of inventory on account for $0.90 per unit. (It sold 2,900 of the $0.60 units and 1,400 of the $0.73.)
7		Granted the December 5 customer $180 credit for 200 units of inventory returned costing $150. These units were returned to inventory.
17		Purchased 2,000 units of inventory for cash at $0.80 each.
22		Sold 1,800 units of inventory on account for $0.90 per unit. (It sold 1,800 of the $0.73 units.)

Adjustment data:

1.		Accrued salaries and wages payable $450.
2.		Depreciation on equipment $220 per month.
3.		Income tax expense was $200, to be paid next year.

Prepare an adjusted trial balance as of December 31, 2022. Wildhorse Co. Adjusted Trial Balance Debit Credit $ $ ta Prepare an income statement for December 2022. Wildhorse Co. Income Statement