prepare the income statement and the statement of retained earnings for calendar year 2019 and the classified balance sheet at December 31, 2019

C Homowor MHE Reader The adjusted trial balance for Anara Co. as of December 31, 2019, follows. P. Anara invested $40,000 cash in the business in exchange for common stock during year 2019. The December 31, 2018, credit balance of the Retained Earnings account was $52,800. Adjusted Trial Balance December 31, 2019 No. Account Title Debit Credit 101 Cash 104 Short-term investments 126 Supplies 7,400 11,200 4,600 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 1,000 24,000 $ 4,000 173 Building 174 Accumulated depreciation-Building 100,000 10,000 183 Land 201 Accounts payable 30,500 3,500 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 1,750 400 1,280 3.330 750 208 Rent payable 400 1,280 Wages payable Property taxes payable Unearned professional fees Current portion of long-term notes payable Long-term notes payable 210 213 3,330 233 750 244 8,400 251 31,600 307 Common stock 40,000 318 Retained earnings 52,800 319 Dividends 8,000 401 Professional fees earned 59,600 406 Rent earned 4.500 407 Dividends earned 1,000 409 Interest earned 1,320 606 Depreciation expense-Building 612 Depreciation expense-Equipment 2,000 1,000 623 Wages expense 633 Interest expense 18,500 1,550 637 Insurance expense 1,525 640 Rent expense 3,600 652 Supplies expense 1,000 682 Postage expense 410 683 Property taxes expense 684 Repairs expense 688 Telephone expense 690 Utilities expense 4,825 679 521 1,920 Totals $224,230 $224,230