PART 7: Prepare Financial Statements Prepare the financial statements for Smart Touch Learning for the month of December. Remember that the business started operations this month so all beginning balances were 0. For the Statement of Retained Earnings and the Balance Sheet, enter any decreases with a negative sign or parentheses. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Debit Credit Account Title Cash 40.770 Accounts Receivable 2,700 Office Supplies 460 Prepaid Insurance 750 Furniture 11,500 Accumulated Depreciation - Furniture 300 Salaries Payable 1,600 Unearned Revenue 4,600 Common Stock 33,100 Dividends 4,500 Service Revenue 28,900 Salaries Expense 5.000 Depreciation Expense - Furniture 300 Insurance Expense 250 Utilities Expense 290 Rent Expense 1,900 80 Supplies Expense Total 68,500 68,500 Revenues: Expenses: Total Expenses Net Income Assets Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Assets Total Liabilities and Stockholders' Equity