South Shore Medical Clinic
Trial Balance
December 31, 20X3
	Debit	Credit
Cash	$50,000
Accounts Receivable	55,000
Supplies	10,000
Inventory	40,000
Equipment	75,000
Building	150,000
Accounts Payable		$25,000
Current Portion - Long Term Debt		35,000
Long Term Debt, net of Current Portion		100,000
Owner's Equity		200,000
Service Fee Revenue		125,000
Salaries Expense	78,500
Rent Expense	24,000
Utilities Expense	2,500
Totals	$485,000	$485,000

In the template above, you are given a trial balance for year ended December 31, 20X3. Using the trial balance, you are required to complete an Income Statement and a Balance Sheet. In addition, another task will be choosing the appropriate type of account classification as well. Lastly, there are a few questions following the completion of the financial statements. All work will be done on the Student Template.