The trial balance for Jewelry Importers in the attached file is prepared in a single column format. Debit balances are shown as positive amounts, while credit balances are in parentheses.

The financial statements at December 31, 2018 would show $_______ in current assets

and $________ in current liabilities;

the retained earnings would be $________.

The income statement would show net sales of $ _________and net income of $_______.

7695-01 Insurance-commercial package 7695-02 Insurance-workman's comp 7696-00 Licenses Expense 7700-00 Auto expenses 7710-00 Contributions 7720-00 Bad debts 7722-00 Collection Costs 7730-00 Dues and subscriptions 7740-00 FOOD & Entertainment 7750-00 Shipping / Postage 7800-00 PAYMENT W/CREDIT CARD 8498-00 Misc. Expenses 8499-00 Misc. Income/ Expenses 8499-01 Beverages 8500-00 Misc. Income 8505-00 Interest Income - Hartford 8600-00 Dividend 8700-01 Interest Expense - Cash Reserve 8700-10 Interest expense - Revolving Acct 8705-00 Credit Card Fees 9950-00 Federal Taxes 9960-00 State Taxes 8,037.06 4,959.97 0.00 27,078.89 3,434.00 7,505.49 (121.32) 80.00 11,816.54 10,196.35 0.00 212.42 0.00 (214.69) (262.83) 0.00 (12.97) 18.91 24,078.47 33,400.13 8,818.00 2,683.00 ($0.00) 6999-00 Cost of goods sold-Designs 7000-00 COGS - Designs 7000-01 Cost of Goods Sold 7055-00 Purchase discounts 7060-00 Packaging Material 7070-00 Freight in 7080-00 Freight out 7305-00 Salaries Expense 7310-00 Officer's Salaries 7315-00 Payroll Taxes Expense 7322-00 Health 7340-00 Contract Labor 7350-00 Computer Consulting 7355-00 Computer hardware/software 7410-00 Advertising 7411-00 Supplies 7412-00 Showroom Fee 7413-00 Catalogue 7440-00 Travel 7441-00 Show Expenses 7450-00 Show fees 7555-00 Telephone etc. 7556-00 Utilities 7560-00 Depreciation expense 7565-00 Amortization 7580-00 Officer's Life Insurance 7680-00 Administration expense 7680-01 Computer Service 7680-02 Maintenance 7685-00 Rent 7686-00 Utilities 7690-00 Legal and accounting 7695-00 Liability Ins. 0.00 84.00 1,950,226.90 (57,276.03) 0.00 15,685.42 20,384.19 327,671.09 248,787.76 45,601.01 62,033.13 10,925.00 14,965.44 12,893.20 25,052.95 19,992.99 3,825.00 29,486.96 47,481.20 60,050.36 108,927.54 13,988.20 2,965.80 26,757.00 58.00 8,332.52 16,912.88 0.00 901.05 16,201.60 15,339.00 15,360.20 9,575.10 Account Description 1010-00 Petty cash 1050-00 1st National Checking 1050-02 Cash in checking 1150-00 Cash in savings 1210-00 Trade receivable 1220-00 Allowance for bad debts 1230-00 Rec' - Other 1300-01 Inventory 1400-00 Prepayments 1400-50 Prepaid Federal Tax 2100-00 Equipment 2101-00 Accumulated Depreciation 2110-00 Software 2111-00 Accumulated Depreciation-Software 2400-00 Rent Deposits 2450-00 Intangible Asset 2451-00 Accumulated Amortization 3010-00 Accounts Payable Trade 3010-01 Miscellaneous Payable 3016-00 Herdoo's Payable 3017-00 Note Payable - Christina Greentree 3040-00 Commissions Payable 3200-00 Accrued Payroll Payable 3211-00 Accrued Payroll Tax Payable 4011-00 Loans payable Elm 4014-00 Software Lease 4015-00 Loans payable Trenton 4025-00 Federal Income Tax Payable 4026-00 State Income Tax Payable 5000-00 Capital stock 5500-00 Retained earnings 6000-01 Sales 6099-01 Sales Adjustments & Returns Ending Balance 100.00 43,553.98 1,968.62 321,100.43 441,912.84 (3,645.00) 81,302.49 428,565.16 36,255.80 15,902.01 71,286.39 (58,820.00) 53,480.69 (49,367.00) 22,500.00 875.00 (319.00) (308,300.68) (65.11) (45,000.00) (75,000.00) (83,122.52) (23,662.81) (2,194.24) (59,830.14) (2,986.83) (32,682.92) 0.00 (2,493.00) (50,000.00) (473,879.13) (3,579,229.16) 116,897.25 7695-01 Insurance-commercial package 7695-02 Insurance-workman's comp 7696-00 Licenses Expense 7700-00 Auto expenses 7710-00 Contributions 7720-00 Bad debts 7722-00 Collection Costs 7730-00 Dues and subscriptions 7740-00 FOOD & Entertainment 7750-00 Shipping / Postage 7800-00 PAYMENT W/CREDIT CARD 8498-00 Misc. Expenses 8499-00 Misc. Income/ Expenses 8499-01 Beverages 8500-00 Misc. Income 8505-00 Interest Income - Hartford 8600-00 Dividend 8700-01 Interest Expense - Cash Reserve 8700-10 Interest expense - Revolving Acct 8705-00 Credit Card Fees 9950-00 Federal Taxes 9960-00 State Taxes 8,037.06 4,959.97 0.00 27,078.89 3,434.00 7,505.49 (121.32) 80.00 11,816.54 10,196.35 0.00 212.42 0.00 (214.69) (262.83) 0.00 (12.97) 18.91 24,078.47 33,400.13 8,818.00 2,683.00 ($0.00) 6999-00 Cost of goods sold-Designs 7000-00 COGS - Designs 7000-01 Cost of Goods Sold 7055-00 Purchase discounts 7060-00 Packaging Material 7070-00 Freight in 7080-00 Freight out 7305-00 Salaries Expense 7310-00 Officer's Salaries 7315-00 Payroll Taxes Expense 7322-00 Health 7340-00 Contract Labor 7350-00 Computer Consulting 7355-00 Computer hardware/software 7410-00 Advertising 7411-00 Supplies 7412-00 Showroom Fee 7413-00 Catalogue 7440-00 Travel 7441-00 Show Expenses 7450-00 Show fees 7555-00 Telephone etc. 7556-00 Utilities 7560-00 Depreciation expense 7565-00 Amortization 7580-00 Officer's Life Insurance 7680-00 Administration expense 7680-01 Computer Service 7680-02 Maintenance 7685-00 Rent 7686-00 Utilities 7690-00 Legal and accounting 7695-00 Liability Ins. 0.00 84.00 1,950,226.90 (57,276.03) 0.00 15,685.42 20,384.19 327,671.09 248,787.76 45,601.01 62,033.13 10,925.00 14,965.44 12,893.20 25,052.95 19,992.99 3,825.00 29,486.96 47,481.20 60,050.36 108,927.54 13,988.20 2,965.80 26,757.00 58.00 8,332.52 16,912.88 0.00 901.05 16,201.60 15,339.00 15,360.20 9,575.10 Account Description 1010-00 Petty cash 1050-00 1st National Checking 1050-02 Cash in checking 1150-00 Cash in savings 1210-00 Trade receivable 1220-00 Allowance for bad debts 1230-00 Rec' - Other 1300-01 Inventory 1400-00 Prepayments 1400-50 Prepaid Federal Tax 2100-00 Equipment 2101-00 Accumulated Depreciation 2110-00 Software 2111-00 Accumulated Depreciation-Software 2400-00 Rent Deposits 2450-00 Intangible Asset 2451-00 Accumulated Amortization 3010-00 Accounts Payable Trade 3010-01 Miscellaneous Payable 3016-00 Herdoo's Payable 3017-00 Note Payable - Christina Greentree 3040-00 Commissions Payable 3200-00 Accrued Payroll Payable 3211-00 Accrued Payroll Tax Payable 4011-00 Loans payable Elm 4014-00 Software Lease 4015-00 Loans payable Trenton 4025-00 Federal Income Tax Payable 4026-00 State Income Tax Payable 5000-00 Capital stock 5500-00 Retained earnings 6000-01 Sales 6099-01 Sales Adjustments & Returns Ending Balance 100.00 43,553.98 1,968.62 321,100.43 441,912.84 (3,645.00) 81,302.49 428,565.16 36,255.80 15,902.01 71,286.39 (58,820.00) 53,480.69 (49,367.00) 22,500.00 875.00 (319.00) (308,300.68) (65.11) (45,000.00) (75,000.00) (83,122.52) (23,662.81) (2,194.24) (59,830.14) (2,986.83) (32,682.92) 0.00 (2,493.00) (50,000.00) (473,879.13) (3,579,229.16) 116,897.25