! Required information [The following information applies to the questions displayed below.] Tunstall, Incorporated, a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Tunstall, Incorporated Unadjusted Trial Balance At December 31 Debit 42,000 11,600 Credit 900 800 19,000 9,200 8,300 3,000 Accounts payable Wages payable Income taxes payable Note payable (3 years; 10% interest due each September 30) 17,000 Common stock (5,000 shares outstanding) 400 Additional paid-in capital 19,000 Retained earnings 6,000 Service revenue 61,360 Wages expense 16,200 Remaining expenses (not detailed; excludes income tax) 17,160 Income tax expense Totals 115,960 115,960 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $300 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $800. c. Depreciation expense for the current year, $3,700. d. Wages earned by employees not yet paid on December 31, $640. e. Three months of interest expense (for the note payable borrowed on October 1 of the current year) was incurred in the current year. f. Income tax expense, $5,540. 2-a. Prepare an income statement (with Operating Income and Other Items sections) that include the effects of the preceding six transactions. 2-b. Prepare a classified balance sheet that include the effects of the preceding six transactions. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 2a Required 2b Prepare an income statement (with Operating Income and Other Items sections) that include the effects of the preceding six transactions. Note: Round "Earnings per share" to 2 decimal places. TUNSTALL, INCORPORATED Income Statement For the Current Year Ended December 31 Operating revenues Service revenue Operating expenses Insurance expense Supplies expense Depreciation expense Wages expense Remaining expenses (not detailed) Total operating expenses Operating income Other Items: Income before taxes [ > > $ 61,360 800 600 3,700 16,840 17,160 39,100 28,225 X 22,260 X Income taxes expense Net income Earnings per share 5,540 $ 22,260 X Complete this question by entering your answers in the tabs below. Required 2a Required 2b Prepare a classified balance sheet that include the effects of the preceding six transactions. Note: Amounts to be deducted should be indicated by a minus sign. TUNSTALL, INCORPORATED Current assets Cash Balance Sheet Current liabilities Total current assets $ 0 Total current liabilities $ 0 Total liabilities $ 0 Stockholders' equity Total stockholders' equity $ 0 Total assets $ 0 Total liabilities and stockholders' equity $ 0 3. Record the closing entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. > Answer is not complete. No 1 Transaction 1 Service revenue General Journal Insurance expense Supplies expense Wages expense Depreciation expense Remaining expenses (not detailed) Income tax expense Interest expense Retained earnings Debit Credit 61,360 800 600 16,840 3,700 17,160 5,540 425