[The following information applies to the questions displayed below.] Daily Driver, Incorporated (DDI), operates a driving service through a popular ride-sharing app. DDI has prepared a list of unadjusted account balances at its December 31 year-end. You have reviewed the balances and made notes shown in the right column. DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Credit Account Name: Canh Supplies Debit $1,500 150 Prepaid Insurance 1,700 Equipment 60,000 Accumulated Depreciation $ 3,600 Salaries and Wages 0 Payable Income Tax Payable. 0 Common Stock 35,000 Retained Earnings Service Revenue Salaries and Wages 10,800 Expense Supplies Expense 200 Depreciation Expense. Teenan Evanes 5,930 31,5701 Notes This equals the bank balance. Only windshield washer fluid that cost $30 remains at December 31, This amount was paid January 2 for car insurance from January 1 through December 31 of this year. This is the car's purchase price. The car will be two years old at the end of December. DDI has not yet paid or recorded $1,000 of salary for December. DDI paid all its taxes from last year.. DDI issued 7,000 shares at $5 each. This is the total accumulated earnings to January 1 of this year. All revenue is received in cash when the service is given. DDI's only employee receives a salary of $1,000 for December. This is the cost of windshield washer fluid used to November 30. The car's benefits are being used up about $3,600 per year. Mna (avanna ha haan naid for nont DAILY DRIVER, INCORPORATED Unadjusted Trial Balance At December 31 Credit Account Name Debit Cash $ 1,500 Supplies 150 Prepaid Insurance 1,700 Equipment 60,000 Accumulated Depreciation: $ 3,600 Salaries and Wages 0 Payable Income Tax Payable) Common Stock Retained Earnings Service Revenue 31,570 Salaries and Wages 10,800 Expense Supplies Expense 200 35,000 5,930 Depreciation Expense Insurance Expense 0 Fuel Expense Income Tax Expense 1,750 0 Totals $ 76,100 $ 76,100 Notes This equals the bank balance.. Only windshield washer fluid that cost $30 remains at December 31. This amount was paid January 2 for car insurance from January 1 through December 31 of this year. This is the car's purchase price. The car will be two years old at the end. of December. DDI has not yet paid or recorded $1,000 of salary for December. DDI paid all its taxes from last year. DDI issued 7,000 shares at $5 each. This is the total accumulated earnings to: January 1 of this year. All revenue is received in cash when the service is given. DDI's only employee receives a salary of $1,000 for December. This is the cost of windshield washer fluid used to November 30. The car's benefits are being used up about $3,600 per year. No car insurance has been paid for next year. All fuel is paid for in cash. DDI's tax rate is 20% of income before tax. of 6 ok ces Debit Beginning Balance Cash Ending Balance Debit Beginning Balance Ending Balance Credit 1,500 1,500 Prepaid Insurance 1,700 1,700 Accumulated Depreciation Credit Debit Beginning Balance Supplies Credit 150 120 a Ending Balance 30 Equipment Debit Credit 60,000 Beginning Balance Ending Balance 60,000 Salaries and Wages Payable Debit Credit Debit Beginning Balance, 3,600 Beginning Balance 3,600 c Ending Balance 7,200 Ending Balance Credit 0 1,000 d. 1,000 6 Debit Beginning Balance Income Tax Payable Ending Balance Debit Beginning Balance Ending Balance Credit Debit 0 Beginning Balance 2,480 e 2,480 Ending Balance Retained Earnings 0 Salaries and Wages Expense Debit Beginning Balance. d. 10,800) 1,000 Ending Delanen) 11 A00 Credit Debit Beginning Balance Ending Balance Credit Debit Beginning Balance Common Stock Service Revenue Credit 0 Credit 0 Supplies Expense 200 Endian Dalasse 2001 0 Credit 2 of 6 Debit Beginning Balance a Depreciation Expense 0 3,600 ook Ending Balance nces Debit Beginning Balance 3,600 Fuel Expense 1,750 Ending Balance 1,750) Credit Debit Beginning Balance Credit Ending Balance Insurance Expense Credit Income Tax Expense Debit Credit Beginning Balance 0 [0. 2,480 Ending Balance 2,480 3 of 6 ook nt int ences Required information DAILY DRIVER, INCORPORATED Adjusted Trial Balance Account Titles Debit Credit DAILY DRIVER, INCORPORATED Income Statement Prepare a statement of retained earnings for the year ended December 31. DAILY DRIVER, INCORPORATED Statement of Retained Earnings Beginning Balance Ending Balance 16 of 6 Book int rint ences Prepare a classified balance sheet for the year ended December 31. (Amounts to be deducted should be indicated by a minus sign.) DAILY DRIVER, INCORPORATED Balance Sheet