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Prepare an Income Statement using the Trial Balance below: Katies Kwilts Unadjusted Trial Balance March 31, 2019 Account Name DR CR Cash 35,650 Accounts Receivable

Prepare an Income Statement using the Trial Balance below:

Katies Kwilts
Unadjusted Trial Balance
March 31, 2019
Account Name DR CR
Cash 35,650
Accounts Receivable 15,900
Office Supplies 570
Prepaid Insurance 8,000
Quilting Machine 65,000
Accumulated Depr - Machinery 8,500
Accounts Payable 11,850
Notes Payable 23,750
Common Stock 25,000
Dividends 10,000
Retained Earnings 27,520
Quilt Sales 43,400
Quilt Accessory Sales 13,550
Salaries Expense 4,230
Depreciation Exp - Machinery 8,500
Bookkeeper Expense 2,580
Insurance Expense 1,250
Cell Phone Service 1,890
Totals 153,570 153,570

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