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Prepare a Statement of Earnings and Comprehensive Income Using the Information Below Eastern Corporation Adjusted Trial Balance As of December 31, 2019 Account Cash Accounts
Prepare a Statement of Earnings and Comprehensive Income Using the Information Below Eastern Corporation Adjusted Trial Balance As of December 31, 2019 Account Cash Accounts Receivable Prepaid Expenses Debit Credit $37,056 15,000 1,800 Inventory 32,888 Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable 22,000 $5,000 9,000 8,352 Current Portion of Long Term Debt 8,000 Long Term Notes Payable 7,500 Common Stock 21,000 Retained Earnings 36,948 Sales 108,000 Cost of Sales 62,000 Income Tax Expense-Current 9,300 Selling Expenses 15,700 General and Administrative Expenses 7,156 Interest Expense 900 Total $203,800 $203,800 Other Information Outstanding Common Shares January 1, 2021 Outstanding Common Shares December 31, 2021 5000 5000
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