Question 2

The adjusted trial balance columns of the worksheet for Indigo Company are as follows. No ordinary shares were issued during April.

INDIGO COMPANY Worksheet (partial) For the Month Ended April 30, 2017
		Adjusted Trial Balance
Account Titles		Dr.		Cr.
Cash		7,099
Accounts Receivable		7,241
Prepaid Rent		2,491
Equipment		22,834
Accumulated DepreciationEquip.				4,680
Notes Payable				5,613
Accounts Payable				5,569
Share CapitalOrdinary				21,320
Retained Earnings				4,887
Dividends		3,439
Service Revenue				12,434
Salaries and Wages Expense		9,933
Rent Expense		829
Depreciation Expense		637
Interest Expense		54
Interest Payable				54
Totals		54,557		54,557

Prepare an income statement.

Prepare a retained earnings statement. (List items that increase retained earnings first.)

Prepare a classified statement of financial position. (List current assets in the reverse order of liquidity.)