The trial balance of valdez fashion center contained tge following accounts at november 30, the end of the conpanys fiscal year.

The trial balance of Valdez Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit VALDEZ FASHION CENTER Trial Balance November 30, 2015 Debit Cash $ 9,030 Accounts Receivable 30,560 Inventory 42,300 Supplies 6,200 Equipment 133,000 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends 10,830 Sales Revenue Sales Returns and Allowances 8,770 Cost of Goods Sold 497,300 Salaries and Wages Expense 139,900 Advertising Expense 24,090 Utilities Expense 13,930 Maintenance and Repairs Expense 11,560 Freight-Out 16,700 Rent Expense 23,550 Totals $967,720 $ 29,870 51,000 36,750 51,120 43,580 755,400 $967,720 Adjustment data: 1. Supplies on hand totaled $2,020. 2. Depreciation is $11,500 on the equipment. 3. Interest of $4,820 is accrued on notes payable at November 30. 4. Inventory actually on hand is $42,000. Enter the trial balance on a worksheet, and complete the worksheet VALDEZ FASHION CENTER Worksheet For the Year Ended November 30, 2015 Adj. Tral Balance Account Titles Adjustments CE DY Cr Cash Account Rece D 000 10 42.300 6.100 131000 Capet Acum, Depec Equipment 23.30 Accounts Payable Common Stoo dig 51,000 35,750 51.170 43.580 10,30 35.400 8.770 Montes Cost of was and 97300 24,000 Expert 16.00 23.550 Depreciation were Interest Expensie Total Prepare a multiple-step come statement for the year Prepare a multiple-step income statement for the year. VALDEZ FASHION CENTER Income Statement For the Year Ended November 30, 2015 Prepare an retained earnings statement for the year. (List items that increase retained earnings first.) VALDEZ FASHION CENTER Retained Earnings Statement For the Year Ended November 30, 2015 Prepare a classified balance sheet as of November 30, 2015. Notes payable of $20,190 are due in January 2016. (List current assets in order of liquidity.) VALDEZ FASHION CENTER Balance Sheet November 30, 2015 Assets Liabilities and Stockholders' Equity