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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
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: Credit Debit $ 47,400 10,800 580 650 17,800 $ 7,900 9,460 2,230 Account Titles Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Accounts payable Wages payable Income taxes payable Note payable (3 years; 10% interest due each December 31) Common stock (4,500 shares outstanding) Additional paid-in capital Retained earnings Service revenue Remaining expenses (not detailed; excludes income tax) Income tax expense Totals 13,000 2,036 18,324 4,200 72,300 33,300 $ 119,990 $ 119,990 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $170 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $650. c. Depreciation expense for the current year, $4,100. d. Wages earned by employees not yet paid on December 3, $630. e. Income tax expense, $5,080. 2-a. Prepare an income statement that include the effects of the preceding five transactions. (Round "Earnings per share" to 2 decimal places.) TUNSTALL, INC. Income Statement 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.) TUNSTALL, INC. Balance Sheet $ 0
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