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Problem 3 40 points Using the following Adjusted Trial Balance prepare an Income #Statement, Retained Earnings Statement and Balance Sheet in correct form. The Old

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Problem 3 40 points Using the following Adjusted Trial Balance prepare an Income #Statement, Retained Earnings Statement and Balance Sheet in correct form. The Old Allouez Company Adjusted Trial Balance December 31, 2019 Account Title Debit Credit Cash 30,000 Accounts Receivable 85,000 Prepaid Insurance 5,000 | Accounts Payable 25,000 Bonds Payable 50,000 Common Stock 20,000 Retained Earnings, Jan 1 Dividends 5,000 Consulting Revenue 110,000 Wage Expense 60,000 Insurance Expense 10,000 Utilities Expense 20,000 Total 215,000 215,000 10,000

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