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4 5 R&M DISTRIBUTING COMPANY Adjusted Trial Balance December 31, 2019 6 7 8 9 10 11 16,500 2.200 17,000 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 2,500 12,500 9,600 1,750 2,500 2,350 17,000 20.000 10,000 31 550,000 32 33 34 35 36 37 38 39 Cash $31.500 Accounts receivable 12,500 Employee advances 1,350 Merchandise Inventory, January 1, 2018 19,500 Prepaid Insurance 6.200 Supplies 1.750 Delivery Truck 80.000 Accumulated Depreciation-Trucks Office equipment 4,700 Accumulated Depreciation Office Equipment Computer equipment 23.000 Accumulated Depreciation-Computer Equipment 9,500 Accumulated Depreciation-equipment Deposits 2.500 Accounts payable Salaries and wages payable Payroll taxes payable Pension contribution Payable Sales Taxes Payable Long Term Notes Payable Common Stock Retained Earnings January 1, 2018 Divident paid 5,000 Sales Sales Return 3.750 Sales Discount 3.200 Purchase 380,000 Purchase Discount Purchase Return Transportation in 1.700 Salaries and wages 37,500 Rent 8,950 Autos and trucks 7.250 Payroll taxes 2.500 Insurance 2,850 Depreciation 3,500 Pension contribution 7,500 Telephone 1,500 Utilities 5,000 Advertising 1,500 Office supplies 1.700 Repairs and maintenance 7,250 Interest Income Total 673.150 Ending merchandise inventory as of December 31, 2019 is $ 27,000. Instruction: 1. Prepare multistep Income statement, Statement of Stock holder's equity and Balance sheet for 2019 2. Prepare closing journal entries for 2019 2,000 5,500 40 41 42 43 44 45 46 47 48 49 50 51 52 1.750 673,150 53 54 55 56 57