Steves Laundry

Trial Balance

December 31, 2016

Cash 6,100

Laundry Supplies 9,560

Prepaid Insurance 8,490

Laundry Equipment 105,100

Accumulated Depreciation Laundry Equipment 40,200

Accounts Payable 6,100

Mortgage Payable (Due 2030) 10,000

Capital Stock 6,000

Retained Earnings 1-1-2016 31,800

Dividends 2,000

Laundry Revenue 170,900

Wages Expense 61,400

Rent Expense 36,000

Utilities Expense 10,000

Insurance Expense 13,650

Miscellaneous Expense 12,700

Prepare and income statement, retained earnings statement and balance statement for Steves Laundry for the year ending December 31, 2016. Please complete the problem using an excel worksheet provided. Please remember to use proper format including financial heading for the statements.