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The accounts below are listed in alphabetical order for Justin Rentals, Inc. Using the adjusted trial balance shown below, prepare (for the 12 months ended

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The accounts below are listed in alphabetical order for Justin Rentals, Inc. Using the adjusted trial balance shown below, prepare (for the 12 months ended December 31, 2020) (1) an income statement, (2) a statement of retained earnings, and (3) a classified balance sheet for Justin Rentals, Inc. Space is provided on the following pages for your answers. Debit Credit 3.500 18,000 2.300 48,275 45,000 4,600 10,500 1,550 10,000 3,600 Accounts payable Accounts receivable Accumulated depreciation: Store equipment Cash Common stock Depreciation expense Dividends Insurance expense Land Miscellaneous expense Notes payable ($2,000 due in one year) Prepaid insurance Rent expense Rent receivable Rent revenue Retained earnings Salaries expense Salaries payable Service revenue Store equipment Uncarned service revenue 10,000 2.000 21,000 1,125 108,600 20,400 38.750 2,850 1,200 39,000 4,550 Total 198,400 198,400

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