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 12,300 620 640 16,900 $ 10,660 9,400 2,310 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 (5,600 shares outstanding) Additional paid-in capital Retained earnings Service revenue Remaining expenses (not detailed; excludes income tax) Income tax expense Totals 12,000 1,926 17,334 5, 400 73,330 33,180 $ 121,700 $ 121,700 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $150 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $640. C. Depreciation expense for the current year, $3,500. d. Wages earned by employees not yet paid on December 3, $590. e. Income tax expense, $5,380. 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 Operating revenues Service revenue $ 73,330 Operating expenses Supplies expense Insurance expense Depreciation expense Wages expense Remaining expenses (not detailed) r 470 640 3,500 590 33,180 Total expenses 38,380 Income taxes expense 5.380 Net income 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.) Assets TUNSTALL, INC. Balance Sheet At December 31 Liabilities and stockholders' equity Current liablities 47,400 Accounts payable 12,300 Wages payable Income taxes payable $ $ Current assets Cash Accounts receivable Supplies 2,310 590 $ $ 2,900 Total current assets Service trucks Other assets 59,700 Total current liabilities 16,900 Notes payable, long-term 10,660 Total liabilities Stockholders' equity Additional paid-in capital Retained earnings $ 2,900 $ $ 0 2,900 Total assets $ 87,260 Total liabilities and stockholders' equity