Question 64 The completed financial statement columns of the worksheet for Bridgeport Company are as follows. Bridgeport Company Worksheet For the Year Ended December 31, 2019 Income Statement Balance Sheet Account Account Titles Dr. Cr. Dr. Cr. No. 101 112 8,900 10,900 2,900 23,900 4,500 9,200 Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Dividends Service Revenue Maintenance and Repairs Expense Depreciation Expense Insurance Expense Salaries and Wages Expense 2,600 19,100 8,600 19,100 59,500 1,800 3,200 1,900 29,700 29,700 1,200 Salaries and Wages Expense Utilities Expense Totals Net Income 59,500 65,700 37,800 21,700 44,000 21,700 65,700 59,500 59,500 65,700 Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Bridgeport Company Income Statement TIMER CALCULATOR STANDARD VIEW PRINTER VERSION SHOW LIST OF ACCOUNTS Prepare a retained earnings statement. (List items that increase retained earnings first.) Bridgeport Company Retained Earnings Statement SHOW LIST OF ACCOUNTS Prepare a classified balance sheet. (List Current Assets in order of liquidity.) Bridgeport Company Balance Sheet Assets Prepare a classified balance sheet. (List Current Assets in order of liquidity.) Bridgeport Company Balance Sheet Assets Liabilities and Stockholders' Equity SHOW LIST OF ACCOUNTS Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31 (To close revenue account.) Dec. 31 (To close expense accounts.) Dec. 31 (To close net income / (loss).) Dec. 31 Post the closing entries and balance the accounts. (Post entries in the order of journal entries presented in the previous part.) Retained Earnings No. 320 Dividends No. 332 Income Summary No. 350 Service Revenue No. 400 Maintenance and Repairs Expense Prepare a post-closing trial balance. Bridgeport Company Post-Closing Trial Balance Debit Credit