Salem Advertising Services Adjusted Trial Balance December 31, 2018 Balance Debit Credit Account Title Cash 14,000 Accounts Receivable 14,900 Office Supplies 6.800 Land 17,800 Building 51.000 Accumulated Depreciation-Building 36,500 Furniture 17,600 Accumulated Depreciation-Furniture 13,100 9.900 Accounts Payable 7.700 Salaries Payable Unearned Revenue 15.000 Common Stock 32.000 20 200 Dotniasd Corninge. CUT 51,000 $ 36,500 17,600 Building Accumulated Depreciation Building Furniture Accumulated DepreciationFurniture Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Supplies Expense Depreciation Expense Building Depreciation Expense_Furniture 13,100 9.900 7.700 15,000 32,000 28,200 20.100 NN 50.200 27,000 8.500 2.800 1 400 10.700 Advertising Expense 192,600 $ 192,600 Total i Requirements XS 1. Prepare the income statement for the year ending December 31, 2018. 2. Prepare the statement of retained earnings for the year ending December 31, 2018 3. Prepare the classified balance sheet as of December 31, 2018. Use the report form. S P rint Done The adjusted trial balance for Salem Advertising Services is presented below. (Click on the icon to view the adjusted bra balance) Read the reguirements Requirement 1. Prepare the income statement for the year ending December 31, 2018. (Use a minus sign or parentheses to show a netloss. If a box is not used in the statement, leave the box em Salem Advertising Services Income Statement Year Ended December 31, 2018 Net Income Loss for th r in December 31, 2018 (Use a minus sign or parentheses to show a not loss.) Requirement 2. Prepare the statement of retained eamings for the year ending December 31, 2018. (Use a minus sign or parentheses to show a net loss.) Salem Advertising Services Statement of Retained Earnings Year Ended December 31, 2018 Retained Earnings, January 1, 2018 Retained Earnings, December 31, 2018 romart 2018 Use the account for Requirement 3. Prepare the classified balance sheet as of December 31, 2018. Use the account form Begin by preparing the asset section of the balance sheet and then prepare the liabilities and stockholders' equity sections (if a box is not used in the balance sheet, lean Accumulated) Salern Advertising Services Balance Sheet December 31, 2018 Assets Less Liabilities Stockholders' Equity The adjusted trial balance for Salern Advertising Services is presented below. (Click on the icon to view the adjusted trial balance) Read the requirements Less Liabilities Stockholders' Equity
