These financial statement items are for below Corporation at year-end,

Salaries and wages payable $ 2,580

Salaries and wages expense 48,700

Utilities expense 22,600

Equipment 21,000

Accounts payable 4,100

Service revenue 64,100

Rent revenue 8,500

Notes payable (due 2014) 1,800

Common stock 16,000

Cash 24,200

Accounts receivable 12,780

Accumulated depreciation 6,000

Dividends 5,000

Depreciation expense 4,000

Retained earnings (beginning of the year) 35,200

Instructions (a) Prepare an adjusted trial balance. Then use adjusted tiral to prepare income statement and a retained earnings statement for the year. Above Corporation did not issue any new stock during the year. (b) Prepare a classified balance sheet at July 31.