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Required information (The following information applies to the questions displayed below.) Tunstall, Inc., a small service company, keeps its records without the help of an

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Required information (The following information applies to the questions displayed below.) Tunstall, Inc., 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: Tunstall, Inc. Unadjusted Trial Balance for the Year Ended December 31 Credit Debit 47,300 10,700 600 Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets 770 17,700 9,000 10,560 2,330 Accounts payable Wages payable Income taxes payable Notes payable, long-term Common stock (4,600 shares outstanding) Additional paid-in capital Retained earnings Service revenue 14,000 1,876 16,884 5,400 87,640 16,200 Wages expense Remaining expenses (not detailed; excludes income tax) Income tax expense 33,300 Totals 137, 130 137,130 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $220 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $770. c. Depreciation expense for the current year, $4,100. d. Wages earned by employees not yet paid on December 31, $550. e. Income tax expense, $5,280. 2-a. Prepare an income statement that include the effects of the preceding five transactions. (Round "Earnings per share" to 2 decimal places.) Answer is complete but not entirely correct. TUNSTALL, INC. Income Statement For the Current Year Ended December 31 Operating revenues Service revenue $ 87,640 Operating expenses Supplies expense 380 Insurance expense 770 Depreciation expense 4,100 550 X Wages expense Remaining expenses (not detailed) 33,300 Total expenses 39,100 Operating income 48,540 x Income tax expense lolololo 5,280 Net income $ 43,260 x 9.40 X Earnings per share $ 2-b. Prepare a classified balance sheet that include the effects of the preceding five transactions. (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. TUNSTALL, INC. Balance Sheet $ 0 $ 0 $ 0 0 $ $ 0 0

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