Over Da Moon opened for business on 1.1.21.
Prepare an Income Statement, Retained Earnings Statement and Balance Sheet.

	Adjusted Trial Balance
	For the Year Ended 12.31.21
Cash	400,000
Accounts Receivable	80,000
Supplies	4,000
Merchandise Inventory	200,000
Prepaid Insurance	12,000
Equipment	140,000
Accumulated Depreciation - Equipment		38,000
Furniture	21,000
Accumulated Depreciation - Furniture		6,000
Land	200,000
Accounts Payable		37,000
Salary Payable		10,000
Taxes Payable		18,000
Note Payable (Due on 1.1.24)		235,000
Common Stock		300,000
Dividends	65,000
Sales Revenue		720,000
Interest Revenue		2,000
Rent Revenue		15,000
Sales Returns and Allowances	10,000
Sales Discounts	1,000
Cost of Goods Sold	173,000
Salary Expense	40,000
Supply Expense	1,000
Depreciation Expense - Equipment	10,000
Depreciation Expense - Furniture	4,000
Insurance Expense	3,000
Miscellaneous Expense	2,000
Loss on Sale of Land	12,000
Interest Expense	3,000
TOTAL	1,381,000	1,381,000

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