Prepare balance sheet. Please, correct the boxes that are marked incorrect.

Comprehensive Problem 5 (Part Level Submission) On December 1, 2017, Prosen Distributing Company had the following account balances. Debit Credit Accumulated Cash $7,500 Depreciation $2,640 -Equipment Accounts Accounts 4,600 4,900 Receivable Payable Salaries and Inventory 12,400 Wages 1,000 Payable Common Supplies 1,400 30,000 Stock Retained Equipment 26,400 13,760 Earnings $52,300 $52,300 During December, the company completed the following summary transactions. Dec. Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is for November 6 salaries and wages payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,800. The cost of the merchandise sold was $4,200. 13 Purchased merchandise on account from Maglio Co. $8,900, terms 2/10, n/30. 15 Purchased supplies for cash $1,800. 18 Sold merchandise on account $12,600, terms 3/10, n/30. The cost of the merchandise sold was $8,200. 20 Paid salaries and wages $1,500. 23 Paid Maglio Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. (d) Your answer is correct. Prepare an adjusted trial balance. PROSEN DISTRIBUTING COMPANY Adjusted Trial Balance December 31, 2017 Debit Credit Cash 14600 Inventory 8722 Accounts Re 2700 Equipment 26400 Cost of Goo 12400 jes Expense 3000 Salaries and 700 Depreciation 240 Accumulate 2880 Supplies 1700 Supplies Ex 1500 Sales Disco 378 Sales Rever 194001 Accounts Pa 4900 Common St 30000 Retained Ea 13760 Totals 71640 71640 Prepare a retained earnings statement for December. PROSEN DISTRIBUTING COMPANY Retained Earnings Statement For the Month Ending December 31, 2017 V Retained Earnings, December 1 13760 Add Net Income / (Loss) 1882 Retained Earnings, December 31 V 15642 Prepare a classified balance sheet at December 31. (List current assets in order of liquidity.) PROSEN DISTRIBUTING COMPANY Balance Sheet December 31, 2017 Assets Current Assets Cash 14600 Accounts 2700 Supplies 1700 Inventory 8722 Total Current Assets 28722 Property, Plant and Equipment Equipment 26400 Less V Accumulate 2800 23600 Total Assets 52322 Liabilities and Stockholders' Equity Current Liabilities Accounts 4900 Salaries ar 700 Total Current Liabilities 5600 Stockholders' Equity Common St 30000 Retained Ea 15642 Total Stockholders' Equity 45642 Total Liabilities and Stockholders' Equity v 51242