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Stark company has the following adjusted accounts with normal balances at its December 31 year-end. Notes payable $ 19,000 Accumulated depreciation-Buildings $ 23,000 Prepaid insurance
Stark company has the following adjusted accounts with normal balances at its December 31 year-end. Notes payable $ 19,000 Accumulated depreciation-Buildings $ 23,000 Prepaid insurance 3,300 Accounts receivable 5,600 Interest expense 660 Utilities expense 2,100 Accounts payable 5,500 Interest payable 420 Wages payable 1,200 Unearned revenue 1,200 Cash 26,000 Supplies expensie 360 Wages expendo 8,300 Buildingo 120,000 Insurance expense 2,600 Dividends 7,000 Common stock 18,000 Depreciation expense-Buildings 6,000 Services revenue 60,000 Supplies 1,200 Retained earnings 54,800 Adjusted Trial Balance December 31 Debit Credit Totals Income Statement of Statement Retained Balance Sheet Earnings Prepare the income statement for the year ended December 31. STARK COMPANY Income Statement For Year Ended December 31 Expenses Total expenses 0 $ 0 Prepare the statement of retained earnings for the year ended December 31. The Retained Earnings account balance was $54,800 on December 31 of the prior year. STARK COMPANY Statement of Retained Earnings For Yoar Ended December 31 Retained earnings, December 31 prior year end 0 Retained earnings, December 31 current year end $ 0 STARK COMPANY Balance Sheet December 31 Assets 0 Total assets $ 0 Liabilities Total liabilities 0 Equity Total equity Total liabilities and equity 0 $ $ 0
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