Required information Bill's Boards (BB) is an outdoor advertising company founded by William Longfall. William knows very little accounting so he hired a friend to "keep the books." Unfortunately, William did not review his friend's work and now it seems his friend has made a mess of the accounting records. William has provided you the following list of unadjusted account balances at BB's September 30 fiscal year-end. You have reviewed the balances with William and made notes shown in the right column. Account Name Cash Accounts Receivable BILL'S BOARDS Unadjusted Trial Balance At September 30 Debits Credits Notes $ 18,300 This balance equals the balance reported by the bank. 1,920 A customer ordered $1,920 of advertising services to be provided in October. The accountant recorded this service by debiting Accounts Receivable and crediting Service Revenue. Starting January 1, 38 agreed to pay $960 cash to rent the land on which its billboards are located, for the January-December period. The accountant adjusted this account on April 30 but has not adjusted it since. BB still has supplies costing $210 on hand on September 30. 4,000 BB bought scaffolding and billboards In October last Prepaid Rent Supplies Equipment Accumulated Depreciation Because the equipment was bought at the beginning of Accumulated Depreciation Accounts Payable Deferred Revenue Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings total accumulat @Because the equipment was bought at the beginning of the fiscal year, no depreciation is carried forward from prior years. 1,510 BB purchased and received $1,510 of supplies used for creating advertising displays. The supplier is to be paid in October. 1,530 This balance relates to $1,530 cash paid by a customer in August for advertising from September 1- November 30. BB's employees are still waiting to be paid for the last half of September. 620 BB hasn't paid the $620 tax owed from the last fiscal year. 3,020 BB has issued 6,010 shares for $3,020 cash. 11,420 BB started business a few years ago, so this is the total accumulated earnings up to October 1 of last year. 58,200 BB has provided $6,010 of services for which it hasn't yet billed customers or recorded in its accounting records. BB's employees earn $6,100 per month. The employees were paid in full on August 31, and were paid again on September 15. About $1,000 of the usefulness of the equipment's $4,000 cost has been used up during the current fiscal year. BB incurs a small cost to rent the land on which its billboards are located. Rent for the current year has been paid in full. BB's accountant expensed $2,820 of supplies purchased during the year because he assumed the Supplies would be completely used by year-end. As noted above, he was wrong Service Revenue Salaries and Wages Expense 48,100 Depreciation Expense Rent Expense 520 Supplies Expense 2.320 Rent Expense 52e Supplies Expense 2,820 BB incurs a small cost to rent the land on which its billboards are located. Rent for the current year has been paid in full. BB's accountant expensed $2,820 of supplies purchased during the year because he assumed the supplies would be completely used by year-end. As noted above, he was wrong. BB's tax rate is zex of income before tax. $ 76,300 Income Tax Expense Totals Totals $ 76,300 $76,300 $ 76,300 Prepare a statement of retained earnings for the year ended September 30 BILL'S BOARDS Statement of Retained Earnings Beginning Balance Ending Balance