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P4-3A. The completed ?nancial statement columns of the worksheet for Fleming Company are shown on below.

Instructions

1)Prepare an income statement, a retained earnings statement, and a classi?ed balance sheet.

2)Prepare the closing entries.

3)Post the closing entries and underline and balance the accounts. (Use T-accounts.) Income Summary is account No. 350.

4)Prepare a post-closing trial balance.

FLEMING COMPANY Worksheet For the Year Ended December 31, 2015 2 Income Statement Balance Sheet Account Account Titles Dr. Cr. Dr. No. 101 112Accounts Receivable 130 Prepaid Insurance 157Equipment 158 Accumulated Depreciation-Equip 201 212Salaries and Wages Payable 311 320Retained Earnings 332 8,900 10,800 2,800 24,000 Cash 8 4,500 9,000 Accounts Payable 12,000 7,500 Common Stock 11,000 Dividends Service Revenue Maintenance and Repairs Expense 60,000 622 711Depreciation Expense 722 Insurance Expense 726 Salaries and Wages Expense 732 1,600 3,100 1,800 30,000 1,400 2 37,900 60,000 57,500 35,400 22,100 60,000 60,00057,500 57,500 Net Income 22,100