Reagan Sakai is in charge of financial management for Land Monitrix. Land Monitrix utilizes satellite technology and sophisticated mapping software to alert its customers to trespassing, illegal dumping, and other encroachments on property these customers own around the globe. Customers typically purchase one-year contracts for this service, and the pricing depends on the number and size of sites monitored.

Mr. Sakai desires to review financial reports -- an income statement, statement of retained earnings, and balance sheet. Prepare these reports from the following adjusted trial balance. Mr. Sakai needs this information for internal review purposes, and does not require a classified balance sheet. The operating data relate to the full year, and the blank worksheet already includes partial data.

LAND MONITRIX CORPORATION

Adjusted Trial Balance

As of December 31, 20X5

Debits

Credits

Cash

$ 834,221

$ -

Accounts receivable

345,909

-

Prepaid expenses

45,787

-

Supplies

66,665

-

Satellite equipment

3,009,000

-

Accumulated depreciation

-

1,222,199

Accounts payable

-

544,190

Unearned revenues

-

455,000

Loan payable

-

1,000,000

Capital stock

-

560,000

Retained earnings, Jan. 1

-

228,892

Dividends

50,000

-

Revenues

-

2,373,402

Selling expenses

476,445

-

Interest expense

80,000

-

Salaries expense

677,667

-

Maintenance and supplies expense

222,989

-

Depreciation expense

575,000

-

$ 6,383,683

$ 6,383,683

	Income Statement
		Revenues
		Services to customers		$ -
		Expenses
			$ -
			-
			-
			-
			-	-
		Net income		$ -
Note -- The "Excel" tip uses macros, and your security settings may limit access.
	LAND MONITRIX CORPORATION
	Statement of Retained Earnings
		Beginning retained earnings		$ -
		Plus: Net income		-
				$ -
				-
				$ -
	LAND MONITRIX CORPORATION
	Balance Sheet
		Assets
				$ -
				-
				-
				-
		Satellite equipment	$ -
		Less: Accumulated depreciation	-	-
		Total assets		$ -
		Liabilities
			$ -
			-
			-
		Total liabilities		$ -
		Stockholders' equity
			$ -
			-
		Total stockholders' equity		-
		Total liabilities and equity		$ -