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Only part C, please follow chart (c) Prepare a classified balance sheet List current ones in order of liquidity CHARLES COOPER CO. Balance Sheet Assets

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(c) Prepare a classified balance sheet List current ones in order of liquidity CHARLES COOPER CO. Balance Sheet Assets V 5 Liabilities and Stockholders' Equity The adjusted trial balance of Charles Cooper Co, as of December 31, 2020, contains the following, CHARLES COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $19,957 Accounts Receivable 7.405 Prepaid Rent 2,765 Equipment 18,535 Accumulated Depreciation-Equipment $5,380 Notes Payable 6,185 Accounts Payable 5.957 Common Stock 20,485 Retained Earnings 11,795 Dividends 3,485 12,075 7,325 2,222 Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable 183 121 121 $61.998 $61,998 (a) Your answer is correct Prepare an income statement. (Enter loss using either a negative sign preceding the number eg.-45 or parentheses eg (45.) CHARLES COOPER CO. Income Statement For the Year Ended December 31, 2020 Revenues Service Revenue 12075 Expenses Salaries and Wages Expense 7,325 Rent Expense 2.222 183 1 Depreciation Expense 121 Interest Expense 9851 Total Expenses 2,224 Net Income /(Loss) e Textbook and Media (b) Your answer is correct. Prepare a statement of retained earnings (List items that increase retained earnings first.) CHARLES COOPER CO. Statement of Retained Earnings For the Year Ended December 31, 2020 Retained Earnings, January 1 11,795 Add : Net Income /(Loss) 2.224 14,019 Less V Dividends -3.485 i Retained Earnings, December 31 V 0 10,534

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