SPLISH FASHION CENTER Adjusted Trial Balance November 30, 2020 Debit Credit Sales Revenue $ 765960 $ 76590 Cash 33770 Cost of Goods Sold 495400 Salaries and Wages Expense 138080 Advertising Expense 27780 Utilities Expenses 15920 Maintenance and Repairs Expense 12100 Delivery Expense 16700 Rent Expense 25380 Supplies Expense 4000 Depreciation Expense 17070 Interest Expense 10440 Retained Earnings 11690 Accounts Receivable 37390 Inventory 48690 Supplies 5190 Equipment 140380 Accumulated Depreciation Equipment 17070 Notes Payable 54690 Interest Payable 10440 Common Stock 93690 Accounts Payable 52190 Sales Returns and Allowances 4200 Total $ $ Income Statement For the Year Ended November 30, 2020 Sales Revenue Sales Less : Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit Operating Expenses Selling expenses Salaries and Wages Expense $ 96656 i Advertising Expense 27780 i Delivery Expense - 16700 Depreciation Expense -17070 i Utilities Expenses 12736 i ded November 30, 2020 $ 765960 4200 i 761760 495400 i 266360 96656 i 27780 i - 16700 i -17070 i 12736 i woon Operating Expenses Selling expenses Salaries and Wages Expense $ 96656 i Advertising Expense 27780 i Delivery Expense - 16700 i Depreciation Expense - 17070 i Utilities Expenses 12736 i Rent Expense 20304 i Supplies Expense 4000 i Total Selling Expenses $ 1 Administrative expenses Rent Expense 5076 i Maintenance and Repairs Expense 12100 i Utilities Expenses 3184 i Salaries and Wages Expense 41424 i Total Administrative Expenses $ 96656 i 27780 i - 16700 - 17070 i 12736 i 20304 i 4000 i $ 195246 i 5076 i 12100 i 3184 i 41424 i 61784 i Salaries and Wages Expense 41424 i Total Administrative Expenses Total Operating Expenses Income from Operations Other Expenses and Losses Interest Expense Net Income /(Loss) e Textbook and Media 61784 i 257030 i 9330 10440 (1110) (c2) Prepare retained earnings statement for the year. SPLISH FASHION CENTER Retained Earnings Statement : e Textbook and Media SPLISH FASHION CENTER Adjusted Trial Balance November 30, 2020 Debit Credit Sales Revenue $ 765960 $ 76590 Cash 33770 Cost of Goods Sold 495400 Salaries and Wages Expense 138080 Advertising Expense 27780 Utilities Expenses 15920 Maintenance and Repairs Expense 12100 Delivery Expense 16700 Rent Expense 25380 Supplies Expense 4000 Depreciation Expense 17070 Interest Expense 10440 Retained Earnings 11690 Accounts Receivable 37390 Inventory 48690 Supplies 5190 Equipment 140380 Accumulated Depreciation Equipment 17070 Notes Payable 54690 Interest Payable 10440 Common Stock 93690 Accounts Payable 52190 Sales Returns and Allowances 4200 Total $ $ Income Statement For the Year Ended November 30, 2020 Sales Revenue Sales Less : Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit Operating Expenses Selling expenses Salaries and Wages Expense $ 96656 i Advertising Expense 27780 i Delivery Expense - 16700 Depreciation Expense -17070 i Utilities Expenses 12736 i ded November 30, 2020 $ 765960 4200 i 761760 495400 i 266360 96656 i 27780 i - 16700 i -17070 i 12736 i woon Operating Expenses Selling expenses Salaries and Wages Expense $ 96656 i Advertising Expense 27780 i Delivery Expense - 16700 i Depreciation Expense - 17070 i Utilities Expenses 12736 i Rent Expense 20304 i Supplies Expense 4000 i Total Selling Expenses $ 1 Administrative expenses Rent Expense 5076 i Maintenance and Repairs Expense 12100 i Utilities Expenses 3184 i Salaries and Wages Expense 41424 i Total Administrative Expenses $ 96656 i 27780 i - 16700 - 17070 i 12736 i 20304 i 4000 i $ 195246 i 5076 i 12100 i 3184 i 41424 i 61784 i Salaries and Wages Expense 41424 i Total Administrative Expenses Total Operating Expenses Income from Operations Other Expenses and Losses Interest Expense Net Income /(Loss) e Textbook and Media 61784 i 257030 i 9330 10440 (1110) (c2) Prepare retained earnings statement for the year. SPLISH FASHION CENTER Retained Earnings Statement : e Textbook and Media