PREPARE: MULTIPLE-STEP INCOME STATEMENT, RETAINED EARNINGS, AND BALANCE SHEET

MotionWork Destiny Inc.
Adjusted Trial Balance
December 31, 2016
Cash	34,000
Petty Cash	900
Accounts Receivable	159,000
Allowance for Doubtful Accounts		5,400
Notes Receivable (due 4/20/2017)	40,000
Inventory	72,000
Estimated Returns Inventory	26,700
Supplies	2,000
Prepaid Insurance	4,800
Land	100,500
Equipment	450,000
Accumulated Depreciation		70,700
Accounts Payable		63,150
Salaries Payable		13,600
Customers Refunds Payable		48,325
Income Tax Payable		21,070
Bonds Payable, Due 12/31/2018		230,000
Premium on bonds payable		2,000
Common Stock, $2 par, 100,000 shares authorized		88,000
Paid in Capital in excess of parCommon stock		8,500
Treasury Stock-common, 550 shares at cost	55,000
Retained Earnings, 1/1/2016		393,300
Cash Dividends	11,000
Sales		2,210,005
Cost of Goods Sold	1,582,250
Selling Expense	356,200
Administrative Expenses	242,700
Interest Revenues		4,000
Interest Expense	14,800
Income taxes expense	6,200
	3,158,050	3,158,050