Prepare the Adjusted Trial Balance. There may be some accounts with zero dollars, and you may have to insert lines for new accounts. Use the Adjusted Trial Balance numbers to complete the Income Statement, Statement of Retained Earnings, Balance Sheet, and Statement of Cash Flows. For purposes of the Income Statement, prepare using the multiple-step format and assume that Rent Revenue, any Unrealized Holding Gains/Losses, Interest Expense, Interest Revenue, and any other Gains/Losses are NOT part of the major central ongoing operations of the company. Use the Income Statement and Balance Sheet to finish the partially completed Statement of Cash Flows. Since this is ABC's first year of operations, several line items on the Statement of Cash Flows have already been supplied to you.

ABC Corporation Unadjusted Trial Balance December 31, 2014 Debit 575,232 167,000 Credit Cash Short term investments Fair value adjustment (Trading) Accounts receivable Allowance for doubtful accounts Invento Purchases Prepaid insurance LT Debt) investments ( Land Building Accumulated depreciation: building 200,200 350,000 24,600 177,824 75,000 150,000 4,000 ent 60,000 20,000 Accumulated depreciation: equipment Patent Accounts parable Notes payable Income taxes paya Unearned rent revenue Bonds Payable Premium on Bonds Payable Common stock PIC In Excess of Par-Common Stock Retained earnings Treasury stoc Dividends Sales Revenue Advertising expense Wages expense Office expense Depreciation expense Utilities expense Insurance expense Income taxes expense 37,500 75,240 235,000 63,800 36,000 800,000 61,771 86,000 13,000 49,000 41,000 802,845 8,400 67,600 21,700 24,000 31,000 73,800 63,800 $ 2,197,656 $2,197,65 ABC Corporation Unadjusted Trial Balance December 31, 2014 Debit 575,232 167,000 Credit Cash Short term investments Fair value adjustment (Trading) Accounts receivable Allowance for doubtful accounts Invento Purchases Prepaid insurance LT Debt) investments ( Land Building Accumulated depreciation: building 200,200 350,000 24,600 177,824 75,000 150,000 4,000 ent 60,000 20,000 Accumulated depreciation: equipment Patent Accounts parable Notes payable Income taxes paya Unearned rent revenue Bonds Payable Premium on Bonds Payable Common stock PIC In Excess of Par-Common Stock Retained earnings Treasury stoc Dividends Sales Revenue Advertising expense Wages expense Office expense Depreciation expense Utilities expense Insurance expense Income taxes expense 37,500 75,240 235,000 63,800 36,000 800,000 61,771 86,000 13,000 49,000 41,000 802,845 8,400 67,600 21,700 24,000 31,000 73,800 63,800 $ 2,197,656 $2,197,65