Requirements: 1. Use the data of adjusted trial balance and prepare the income statement, statement of retained earnings and balance sheet. P4-4B Kumar Management Services Inc. began business on January 1, 2014, with a capi- tal investment of $120,000. The company manages condominiums for owners (Service Revenue) and rents space in its own office building (Rent Revenue). The trial balance and adjusted trial balance columns of the worksheet at the end of the first year are as follows. Kumar Management Services Inc. Worksheet For the Year Ended December 31, 2014 Adjusted Trial Balance Dr. Cr. 13,800 26,300 1,800 67,000 127,000 59,000 Trial Balance Dr. Cr. 13,800 26,300 3,600 67,000 127,000 59,000 12,500 8,000 120,000 80,000 54,000 16,000 90,700 26,000 42,000 17,500 19,000 391,200 391,200 12,500 3,500 120,000 80,000 54,000 Account Titles Cash Accounts Receivable Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Salaries and Wages Expense Advertising Expense Utilities Expense Totals Insurance Expense Depreciation Expense Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Interest Expense Interest Payable Totals 16,000 90,700 30,500 42,000 17,500 19,000 1,800 6,600 3,000 3,600 9,600 9.600 407,400 407,400