PHAROAH DISTRIBUTING COMPANY Balance Sheet Assets $ Liabilities and Stockholders' Equity $ $ $ $ Sales Sales Revenue Less : Sales Discounts Net Sales Cost of Goods Sold Gross Profit Operating Expenses Salaries and Wages Expense Depreciation Expense Supplies Expense Income Before Income Taxes Income Tax Expense Net Income/(Loss) PHAROAH DISTRIBUTING COMPANY Income Statement For the Month Ended December 31, 2022 +A $ 2600 200 i 1700 i -69 +A Sales Discounts is Sold xpenses d Wages Expense on Expense xpense re Income Taxes Expense / (Loss) PHAROAH DISTRIBUTING COMPANY Income Statement For the Month Ended December 31, 2022 +A $ 2600 i 200 i 1700 i +A 16300 315 i 15985 10800 5185 4500 i 100 685 585 i PHAROAH DISTRIBUTING COMPANY Retained Earnings Statement For the Month Ended December 31, 2022 Retained Earnings, December 1 Add Net Income/(Loss) Retained Earnings, December 31 60 60 23300 585 23885 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Sales Revenue Sales Discounts Cost of Goods Sold PHAROAH DISTRIBUTING COMPANY Adjusted Trial Balance December 31, 2022 Debit Credit 12625 $ 2200 7560 1500 22000 315 10800 Salaries and Wages Expense 2600 Income Taxes Payable Depreciation Expense Supplies Expense Income Tax Expense 200 1700 100 2400 4000 500 15000 23300 16300 100 $ 61600 $ 61600