Required:

.

Prepare a properly formatted multi-step income statement [23 marks] and statement of

retained earnings [6 marks] for the year ended March 31, 2021, as well, a properly formatted

classified balance sheet [35 marks] as at March 31, 2021.

Credit De bit 110,310 168,400 15,000 9,000 10,500 15,900 120,000 RCube, Inc. Adjusted Trial Balance As at March 31, 2021 Account Title Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Shredding Machine Supplies Inventory Shredding Equipment Accumulated Depreciation, Equipment Vehicles Accumulated Depreciation, Vehicles Office Furniture Accumulated Depreciation, Furniture Accounts Payable Interest Payable Wages Payable CPP Contributions Payable El Contributions Payable Witheld Taxes Payable 0 45,000 38,960 26,400 1,750 58,300 0 0 0 0 0 0 0 0 80,000 90,000 58,390 0 50,700 300 1,500 Witheld Taxes Payable Income Taxes Payable Deferred Revenue Bank Loan Payable Common Shares Retained Earnings Dividends Declared Sales Revenue Sales Returns & Allowances Sales Discounts Service Revenue Rental Revenue Cost of Goods Sold Administration Expense Bad Debt Expense Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Supplies Expense Utilities Expense Wages Expense 520,000 18,200 35,400 68,240 0 0 0 25,100 2,200 26,450 38,000 213,600 Payroll Tax Expense 15,000 931,300 931,300