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The trial balance shown below has been prepared for Stake Technology Inc. as of June 30, 2014, the company's first month of operations. Use this
The trial balance shown below has been prepared for Stake Technology Inc. as of June 30, 2014, the company's first month of operations. Use this information to prepare the income statement and statement of changes in equity for the month ended June 30 along with the June 30 balance sheet. Be sure to select the correct company and date for each given financial statement. Stake Technology Inc. Trial Balance June 30, 2014 Debit Credit Accounts payable. 54,500 Advertising expense.. 31,000 Commissions earned... 66,500 Consulting revenue earned... 126,000 Dividends... 37,500 Equipment 106,000 Insurance expense.. 18,000 Interest earned. 32,000 Land... 78,000 Notes receivable... 144,500 Property taxes payable... 28,000 Share capital 181,500 Utilities expense. 73,500 Totals 488,500 488,500 (select one) Balance Sheet (select one) (select one) Income Statement (select one) (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity
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