The following is the account summary of Lambda Ltd. as of December 31, 2023:

Service Revenue: $24,000

Salaries Expense: $6,000

Rent Expense: $2,700

Utilities Expense: $900

Interest Expense: $300

Depreciation Expense: $1,600

Common Stock: $12,000

Retained Earnings: $10,500

Accounts Receivable: $3,000

Accounts Payable: $1,800

Cash: $2,000

Equipment: $7,000

Accumulated Depreciation: $2,500

Required:

Prepare an adjusted Trial Balance at December 31, 2023.

Prepare an Income Statement for the year ended December 31, 2023.

Prepare a Statement of Retained Earnings for the year ended December 31, 2023.

Prepare a classified Balance Sheet at December 31, 2023.

Prepare a Cash Flow Statement for the year ended December 31, 2023.