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[The following information applies to the questions displayed below.) Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year

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[The following information applies to the questions displayed below.) Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. Debit Credit $ 40 11 8 84 $ 0 Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and Wages Expense Supplies Expense 11 80 8 84 o 12 28 Totals $183 $183 Other data not yet recorded at December 31: a. Insurance expired during the year, $7. b. Depreciation expense for the year. $6. c. Wages payable, $9. d. Income tax expense, $11. 2. Using T-accounts, determine the adjusted balances in each account and prepare an adjusted trial balance as of December 31 Cash 40 Accounts Receivable Beg. Bal Beg. Bal. End, Bal. 40 End. Bal 0 Prepaid Insurance Equipment Beg Bal. Beg. Bal End. Bal. 0 End. Bal. 0 Accumulated Depreciation Equipment Accounts Payable Beg. Bal. Beg Bal End. Bal. 0 End. Bal ol Salaries and Wages Payable Bog. Bal Income Tax Payable Beg. Bat. End. Bal 0 End. Bal. 0 Common Stock Retained Earnings Beg. Bal Beg Bal End. Bal. End. Bal 0 Sales Revenue Supplies Expense Beg Bal. Beg Bal End. Bal O End. Bal. 0 Salaries and Wages Expense Beg. Bal Depreciation Expense Beg Bat End. Bal 0 End. Bal 0 Insurance Expense Income Tax Expanse Beg. Bal Bes Bal End. Bal. 0 End, Bal MINT CLEANING INC. Adjusted Trial Balance Account Titles Debit Credit Totals $ 0 $ 0 Required: Using the above adjusted balances, prepare an income statement. MINT CLEANING INC. Income Statement 0 0 Required: Using the above adjusted balances, prepare a statement of retained earnings. MINT CLEANING INC. Statement of Retained Earnings Beginning Balance, January 1 Ending Balance, December 31

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