Prepare income statement and balance sheet.

A C D F G H 19 long term assets Land 1,845,000 20 long term assets Vehicles 252,000 21 long term assets Accumulated Depreciation: Vehicles 138,600 22 long term assets Equipment 2,640,000 23 long term assets Accumulated Depreciation: Equipment 1,188,000 24 current liabilities Bank loan 654,714 25 current liabilities Accounts payable 465,574 26 current liabilities Salaries payable 57,978 27 current liabilities Interest payable 10,489 28 current liabilities 29 current liabilities 30 current liabilities 1 long erm liabilities Mortgage loan 1,503,000 2 long erm liabilities Other long term debt 1,095,780 + 3 long erm liabilities 4 long erm liabilities 5 long erm liabilities 6 shareholder's equity Common Shares 200,000 7 shareholder's equity 8 shareholder's equity Retained Earnings 2,684,200 shareholder's equity Accumulated Other Comprehensive Income 174,320 Revenue Sales revenue 11,400,000 Revenue Service revenue 8,892,000 Revenue Revenue from US operations (C$) 2,173,500 Trial Balance Stmt of Comp Income Stmt of Shers Equity Balance Sheet Comparative BS ... + : 4 ect destination and press ENTER or choose Paste + 100% U Course Hero and 2 . 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X PrabhabenPatelN01. 10:46 AM 11/7/2020 pA B C D E F G H Rolling Thunder Bikes Inc. 2 FINAL ADJUSTED TRIAL BALANCE W March 31, 2020 A 5 ACCOUNT TYPE ACCOUNT NAME DEBITS CREDITS 6 current assets Cash 420,020 current assets Accounts Receivable 190,000 8 current assets Allowance for Doubtful Accounts 13,300 9 current assets Merchandise Inventory 1,454,919 10 current assets Parts inventory 437,900 11 current assets Prepaid insurance 20,667 12 current assets Supplies 39,520 13 current assets Short term Investments, FV-NI 390,000 14 current assets Assets held for sale, fair value 190,000 15 current assets 16 long term assets Investments, FV-OCI 845,000 17 long term assets Building 2,200,000 18 long term assets Accumulated Depreciation: Building 1,540,000 19 long term assets Land 1,845,000 20 long term assets Vehicles 252,000 21 long term assets Accumulated Depreciation: Vehicles 138,600 22 long term assets Equipment 2,640,000 23 long term assets Accumulated Depreciation: Equipment 1,188,000 Trial Balance Stmt of Comp Income Stmt of Shers Equity Balance Sheet Comparative BS ...+ Select destination and press ENTER or choose Paste U Course Hero and 2 . 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PrabhabenPatelNO1.. 10:46 AM 11/7/2020 hpF12 X V A B C D F G 54 Operating Expenses Bad debt expense 22,800 55 Operating Expenses Expenses from US operations (C$) 2,899,000 56 Other Non-Operating Expenses, Revenues, Gains or Losses Interest Expense (on Long Term Debt) 125,867 57 Other Non-Operating Expenses, Revenues, Gains or Losses Gain or Loss on revaluation of Assets Held for Sale 272,000 58 Other Non-Operating Expenses, Revenues, Gains or Losses Interest Income 33,150 59 Other Non-Operating Expenses, Revenues, Gains or Losses 60 Other Non-Operating Expenses, Revenues, Gains or Losses 61 Other Non-Operating Expenses, Revenues, Gains or Losses 62 Other Non-Operating Expenses, Revenues, Gains or Losses 63 Other Non-Operating Expenses, Revenues, Gains or Losses 64 Tax - Continuing Operations Income Tax Expense (Recovery) - Continuous Operations 245,175 65 Tax - Discontinued Operations Income Tax Expense (Recovery) - Discontinued Operations 145,100 66 Tax - Discontinued Operations Income Tax Expense (Recovery) - Revaluation of Assets Held for Sale 54,400 67 Other Comprehensive Income (OCI) Unrealized Gains (Losses) through OCI 23,590 68 Other Comprehensive Income (OCI) Income Tax Expense (Recovery) - OCI 4,718 69 TOTAL 32,447,695 /32,447,695 70 71 72 Note: Close down US operations 73 74 1,225,873 75 76 77 Trial Balance Stmt of Comp Income Stmt of Shers Equity Balance Sheet Comparative BS Select destination and press ENTER or choose Paste Course Hero and 2 ... Spotify Free Origin ACCT 205 PROJECT PrabhabenPatelNO1..F12 X V fx A B C D E F 39 shareholder's equity Accumulated Other Comprehensive Income 174,320 40 Revenue Sales revenue 11,400,000 41 Revenue Service revenue 8,892,000 42 Revenue Revenue from US operations (C$) 2,173,500 43 Revenue Sales Returns & Allowances 342,000 44 Operating Expenses Cost of Goods Sold 9,883,800 45 Operating Expenses Salaries expense 5,024,800 46 Operating Expenses Rent expense 990,000 47 Operating Expenses Supplies expense 163,200 48 Operating Expenses Depreciation expense 490,400 49 Operating Expenses Marketing expense 838,000 50 Operating Expenses Utilities expense 89,250 51 Operating Expenses Vehicle expense 53,240 52 Operating Expenses Insurance expense 62,000 + 53 Operating Expenses Misc. expense 16,420 54 Operating Expenses Bad debt expense 22,800 55 Operating Expenses Expenses from US operations (C$) 2,899,000 56 Other Non-Operating Expenses, Revenues, Gains or Losses Interest Expense (on Long Term Debt) 125,867 57 Other Non-Operating Expenses, Revenues, Gains or Losses Gain or Loss on revaluation of Assets Held for Sale 272,000 58 Other Non-Operating Expenses, Revenues, Gains or Losses Interest Income 33,150 59 Other Non-Operating Expenses, Revenues, Gains or Losses 60 Other Non-Operating Expenses, Revenues, Gains or Losses 61 Other Non-Operating Expenses, Revenues, Gains or Losses 62 Other Non-Operating Expenses, Revenues, Gains or Losses ... Trial Balance Stmt of Comp Income Stmt of Shers Equity Balance Sheet Comparative BS ... . Select destination and press ENTER or choose Paste Course Hero and 2 .. Spotify Free Origin ACCT 205 PROJECT ... PrabhabenPatelN01