P4-7 Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement including Earnings per Share LO4-1, 4-2, 4-4 Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period, December 31, 2014 Account Titles Debit Credit 42,000 Cash Accounts receivable 11,600 Supplies 900 Prepaid insurance 800 Service trucks 19,000 9,200 Accumulated depreciation Other assets 8,300 Accounts payable 3000 Wages payable Income taxes payable Note payable (3 years; 10% interest due each 17000 Common stock (5,000 shares outstanding) 400 Additional paid capital 19000 Retained earnings 6000 61360 Service revenue Remaining expenses (not detailed; excludes income 33,360 Income tax expense 115,960 $115,960 Totals Data not yet recorded at December 31, 2014, included