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Prepare an income statement from this trail balance: Rockford Corporation Adjusted Trial Balance December 31, 2018 2018 Account Debit Credit Cash 280,178 Accounts Receivable 280,280
Prepare an income statement from this trail balance:
Rockford Corporation Adjusted Trial Balance December 31, 2018 2018 Account Debit Credit Cash 280,178 Accounts Receivable 280,280 Allowance for Doubtful Accounts 14.014 Notes Recaivable 104.200 Interest Receivable 1.281 448.502 Inventory 830 Supplies Prepaid Insurance 5.200 Prepaid Rent 3.500 Other Assets 160,000 Land 99,650 Buildings 306,000 91.960 Accumulated Depreciation-Buildings Trucks 70,500 Accumulated Depreciation-Trucks 47,540 Equipment 38.900 Accumulated Depreciation-Equipment 19,125 Notes Payable 15.000 Accounts Payable 181.549 Salaries and Wages Payable 4.406 FICA Taxes Payable 9.050 Federal Income Taxes Payable Federal Withholding Taxes Payable 15.335 FUTA Payable SUTA Payable 2,600 Interest Payable 10,955 Interest Payable 10.955 Dividends Payable 8,740 Notes Payable-Long Term 113,000 275.000 Bonds Payable Discount on Bonds Payable 4.864 Common Stock-$30 Par (10,000 autorised, 6,900 issued, 5,200 outstanding) 207.000 Paid-in Capital in Excess of Par-Common 292.400 Retained Earnings 362,748 Treasury Stock 125.610 74C Dividends 5.660.052 Sales Revenue Sales Discounts 77,281 Sales Returns and Allowances 14,060 Cost of Goods Sold 3.985,262 Advertising Expense 7.678 Bad Debt Expense 13.134 Supplies Expense 4,458 Freight-Out 19,490 Office Expense 1455 37.745 Office Expense 1455 Depreciation Expense 37,745 Insurance Expense 4,365 Salaries and Wages Expense 995,752 Rant Expense 21,910 Payroll Tax Expense 87.441 Utilities Expense 17,478 Interest Revenue 4 421 Gain on Disposal of Plant Assets Intarest Expense 37.061 Loss on Disposal of Plant Assets Income Tax Expense 72.000 $ 7335,305 Total 7335,305 dsStep by Step Solution
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