Required Information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below) The transactions of Spade Company appear below. a. K. Spade, owner, invested $11.250 cash in the company in exchange for common stock. b. The company purchased supplies for $326 cash c. The company purchased $6,221 of equipment on credit. d. The company received $1,32B cash for services provided to a customer e. The company paid $6.221 cash to settle the payable for the equipment purchased in transaction 1. The company billed a customer $2.385 for services provided 9. The company paid $515 cash for the monthly rent. h. The company collected $1.002 cash as partial payment for the account receivable created in transaction 1. The company paid a $1100 cash dividend to the owner isole shareholder). Exercise 2-14 (Algo) Preparing a trial balance LO P1 Prepare the Trial Balance Use May 31 as its report date. (Hint: Accounts must be listed in financial statement order: Assets first, followed by liabilities, equity, revenues and expenses.) Answer is not complete. Credit ololo 11.250 SPADE COMPANY Trial Balance May 31 Debit Cash ls 5.418 Common stock Supplies 326 Equipment 0.221 Accounts payable Services revenue Accounts receivable 1.383 Rent expense 515 Dividends x 1,100 Totals $ 14083 3 $ 0 3.713 el $ 14,003 Credit Debit $ 30,000 52,000 18,000 168,000 16, cee 168,000 $ 50,000 138,000 18,000 78,00 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office Supplies Automobiles Accumulated depreciation Automobiles Equipment Accumulated depreciation Equipment Land Accounts payable Interest payable Salaries payable Unearned revenue Long-terw notes payable Common stock Retained earnings Dividends Services revenue Interest revenue Depreciation expense Automobiles Depreciation expense Equipment Salaries expense Wages expense Interest expense Office Supplies expense Advertising expense Repairs expense automobiles Totals 96,000 20,000 19,000 30,000 138, 20,000 235,00 46,00 484 Bee 24.ee 26,00 18,000 188,00 48,000 32,00 34,000 58,000 24,00 $ 1,134,800 $ 1,134, see Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31: (b) the statement of retained earnings for the year ended December 31[Note Retained Earnings at December 31 of the prior year was $235.800.). and (c) the balance sheet as of December 31. Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31 Assets 5 30.000 18.000 Cash Accounts receivable Interest receivable Total revenues Expenses $ 48,000 CHIARA COMPANY Income Statement For Year Ended December 31 Assets S 30,000 Cash Accounts receivable Interest receivable 18.000 69 48.000 Total revenues Expenses Depreciation expenseAutomobiles Accumulated depreciation Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles 0 Net income f Required B> 30, eee 138,888 20, eee 235, Bee 46,898 484, eee 24, Salaries payable Unearned revenue Long-term notes payable Common stock Retained earnings Dividends Services revenue Interest revenue Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles Totals 26,000 18,888 188,888 40,000 32,000 34,000 58,800 24,809 $ 1,134,898 $ 1,134,800 Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended Decemb statement of retained earnings for the year ended December 31 (Note: Retained Earnings at December 31 of the $235.800.); and (c) the balance sheet as of December 31. Complete this question by entering your answers in the tabs below. Required A Required B Required Prepare the statement of retained earnings for the year ended December 31. [Note: Retained Earnings at December 3 prior year was $235,800.] CHIARA COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earings. December 31 prior year end Add: Net income Less: Dividends Retained eamings. December 31 current year end $ 0 Prepare CHIARA COMPANY Balance Sheet December 31 Assets Cash Accounts receivable Interest receivable 0 Notes receivable Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land 0 Total assets Liabilities Accounts payable interest payable Salaries payable Unearned revenue Long-term notes payable Total liabilities Equity Common stock Retained earnings 0 Total equity Total liabilities and equity 0