Question 2 The adjusted trial balance of Ryan Financial Planners appears below. RYAN FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2017 Debit Credit Cash $3,070 Accounts Receivable 2,240 Supplies 1,790 Equipment 16,400 Accumulated DepreciationEquipment $4,100 Accounts Payable 3,340 Unearned Service Revenue 5,640 Common Stock 10,000 Retained Earnings 4,280 Dividends 2,000 Service Revenue 4,150 Supplies Expense 530 Depreciation Expense 2,520 Rent Expense 2,960 $31,510 $31,510 Using the information from the adjusted trial balance, you are to prepare for the month ending December 31: 1. An income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) RYAN FINANCIAL PLANNERS Income Statement For the Quarter Ended December 31, 2017December 31, 2017For the Month Ended December 31, 2017 DividendsExpensesNet Income / (Loss)Retained Earnings, December 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues $ DividendsExpensesNet Income / (Loss)Retained Earnings, December 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues $ Dividends Expenses Net Income / (Loss) Retained Earnings, December 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues Dividends Expenses Net Income / (Loss) Retained Earnings, December 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues $ 2. A retained earnings statement. RYAN FINANCIAL PLANNERS Retained Earnings Statement For the Quarter Ended December 31, 2017December 31, 2017For the Month Ended December 31, 2017 Dividends Expenses Net Income / (Loss) Retained Earnings, December 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues $ AddLess : Dividends Expenses Net Income / (Loss) Retained Earnings, December 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues $ Dividends Expenses Net Income / (Loss) Retained Earnings, December 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues Dividends Expenses Net Income / (Loss) Retained Earnings, December 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues $ 3. A balance sheet. (List Assets in order of liquidity.) RYAN FINANCIAL PLANNERS Balance Sheet For the Month Ended December 31, 2017December 31, 2017For the Quarter Ended December 31, 2017 Assets $ $ Add Less : Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesShort-term InvestmentsTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Liabilities and Stockholders Equity $ Liabilities and Stockholders' Equity Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesShort-term InvestmentsTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Liabilities and Stockholders Equity $ Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesShort-term InvestmentsTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Liabilities and Stockholders Equity $ Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesShort-term InvestmentsTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Liabilities and Stockholders Equity Current AssetsLiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesShort-term InvestmentsTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Liabilities and Stockholders Equity $