Please do it in the same format. Thank You :)

Worksheet for Service Company Whitaker Consulting Company has prepared a trial balance on the following partially completed worksheet for the year ended December 31, 2019: Retained Trial Income Earnings Balance Balance Adjustments Statement Statement Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Accounts Cash 3,800 2,400 7,000 1,400 2,000 Prepaid Rent Office Equipment Accumulated Depreciation Note Payable (due 7/1/20) Common Stock (200 shares) Retained Earnings (1/1/19) Dividends Consulting Revenues 4,000 3,200 200 6,100 2,500 Salaries Expense Miscellaneous Expenses 800 Totals 16,700 16,700 Additional information: (a) On January 1, 2019, the company had paid 2 years' rent in advance at $100 a month for office space, (b) the office equipment is being depreciated on a straight-line basis over a 10-year life, and no residual value is expected, (c) interest of $150 has accrued on the note payable but has not been paid, and (d) the income tax rate is 30% on current income and will be paid in the first quarter of 2020. 1. Complete the worksheet. Enter all amounts as positive numbers. WHITAKER CONSULTING COMPANY Worksheet For the Year Ended December 31, 2019 Trial Balance Trial Balance Adjustments Adjustments Debit Credit Debit Credit Income Statement Debit Income Statement Credit Retained Retained Earnings Earnings Statement Statement Debit Credit Balance Sheet Debit Balance Sheet Credit Cash 3.800 3.800 Prepaid rent 2.400 1,200 1.200 Office equipment 7.000 7,000 1,400 700 2,100 2.000 2,000 Accumulated depreciation Note payable (due 7/1/20) Common Stock (200 shares) Retained earnings (1/1/19) 4.000 4,000 3.200 3,200 Dividends 200 200 Consulting revenues 6,100 | 6.00 6,100 Salaries expense 2,500 2,500 Miscellaneous expenses 800 800 Totals 16,700 16,700 2. Prepare the income statement for 2019. For Earnings per Share computation, round to two decimal places. WHITAKER CONSULTING COMPANY Income Statement For Year Ended December 31, 2019 Consulting revenues $ 6,100 Operating expenses Salaries expense 2,500 Rent expense 1,200 Depreciation expense 700 Miscellaneous expenses 800 Total operating expenses 5,350 X Income from operations 750 X Income before income taxes X: Interest payable x Net income X 750 Income tax expense 225 Net Income S25 Prepare statement of retained earnings for 2019. WHITAKER CONSULTING COMPANY Statement of Retained Earnings For Year Ended December 31, 2019 Retained earnings, January 1, 2019 3,200 Add: Net income for 2019 0 3,200 X Less: Dividends for 2019 200 Retained earnings, December 31, 2019 3,525 WHITAKER CONSULTING COMPANY Balance Sheet December 31, 2019 Assets Current Assets: Cash Prepaid rent 3,800 1,200 5,000 Total current assets Property, plant, and Equipment: Office equipment 7,000 Less: Accumulated depreciation 2,100 Total property, plant, and equipment 4,900 Total assets $ 9,900 Liabilities Current Liabilities: Note payable 2,000 Consulting revenues X 150 Income taxes payable 2,150 Total liabilities and shareholders' equity X 225 Consulting revenues X 150 2,150 X 225 x Income taxes payable Total liabilities and shareholders' equity X Shareholders' Equity Contributed Capital: Common stock 3,525 X Retained earnings 3,525 7,525 9,900 Total shareholders' equity X Feedback Check My Work You should refer to Example 3.8 in your text for an example of a balance sheet. In general: a. The assets are divided into current assets and noncurrent assets. 1. Current assets are cash and those assets that are expected to be converted into cash or consumed within one year or the operating cycle, whichever is longer. Current assets generally include cash, receivables, investments in marketable securities, inventories, and prepaid items. ii. Noncurrent assets are those assets that are expected to be consumed over more than one year or one operating cycle. This section includes both depreciable assets listed at their book values and nondepreciable assets. b. Liabilities are divided into current liabilities and noncurrent liabilities i. Current liabilities are those obligations that will become due within one year or the operating cycle, whichever is longer. ii. Noncurrent liabilities are obligations that will become due after one year or one operating cycle