Required information [The following information applies to the questions displayed below.] The December 31, Year 1, adjusted trial balance for a company is presented below. Credit Debit $ 10, 700 137,000 4,700 23,500 270,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $122,000 10,700 9,700 3,700 27,000 170,000 47,000 370,000 270,000 13,500 27,000 3,700 $760,100 $760, 100 8 Required information Income Statement For the Year Ended December 31, Year 1 Expenses: es Total expenses 0 170,000 47,000 370,000 Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals 270,000 13,500 27,000 3,700 $760,100 $760,100 2. Prepare a statement of stockholders' equity for the year ended December 31, Year 1, assuming no comm Year 1. Statement of Stockholders' Equity For the Year Ended December 31, Year 1 s Common Stock Retained Earnings Total Stockholders' Equity Balance at January 1 Less: Dividends Balance at December 31 Required information Balance Sheet December 31, Year 1 Assets Liabilities Current assets: Current liabilities: Total current assets Total current liabilities Total liabilities Stockholders' Equity Long-term assets: Total long-term assets Total assets Total stockholders' equity Total liabilities and stockholders' equity 12 of 20 B