The following is a list of accounts and their ending balances. Using the data, prepare Takington's financial statements.

Accounts Payable	5,600		Interest Expense	60,000
Accounts Receivable	286,172		Interest Payable	30,000
Accum. Depr. (Building)	350,000		Land	304,975
Accum. Depr. (Equipment)	725,000		Notes Payable	1,000,000
Advertising Expense	125,226		Prepaid Advertising	14,874
Building (Warehouse)	2,190,000		Property Taxes Expense	170,000
Cash	2,012,324		Retained Earnings	462,375
Common Stock	1,400,000		Service Revenue	2,943,538
Depreciation Expense	215,000		Supplies Expense	38,115
Dividends	25,000		Supplies	13,685
Equipment	795,000		Wages Expense	726,700
Income Taxes Expense	482,549		Wages Payable	60,558
Income Taxes Payable	482,549

3. Prepare an income statement.

Note: For grouped values (e.g. revenues or expenses), enter individual amounts as positive values. If the total for the group is subtracted or an overall negative amount, enter using a minus sign.

Tarkington Freight Service
Income Statement
For the Year Ended December 31, 2019
Expenses:
		$fill in the blank 5d6e43fad01dfbe_19

4. Prepare a retained earnings statement.

Tarkington Freight Service
Retained Earnings Statement
For the Year Ended December 31, 2019
	5. Prepare a classified balance sheet.

Tarkington Freight Service
Balance Sheet
December 31, 2019
Assets
Current assets:
Total current assets
Property, plant, and equipment:
Total property, plant, and equipment
Total assets
Liabilities
Current liabilities:
Total current liabilities
Long-term liabilities:
Total liabilities
Stockholders' Equity
Stockholders' equity:
Total stockholders' equity
Total liabilities and stockholders' equity			$fill in the blank 78474405a036fb9_41

6. Prepare closing entries. If an amount box does not require an entry, leave it blank.

Dec. 31
	(Close revenue accounts)
Dec. 31
	(Close expense accounts)
Dec. 31
	(Close Income Summary)
Dec. 31
	(Close Dividends)

7. Conceptual Connection: Did you include Transaction g among Tarkington's 2019 journal entries?