to Prepare an Income Statement from an Adjusted Trial Balance The Century Company's adjusted trial balance contains the following balances as of December 31: Retained Earnings $38,250 Cost of Goods Sold Dividends $36,000 9,000 Selling and Administrative Expenses 13,500 Sales 90,000 Interest Expense 6,750 Prepare an income statement for the year. (Put expenses in order of magnitude (largest to smallest).) Sales Less: Cost of Goods Sold Net loss CENTURY COMPANY Income Statement For Year Ended December 31 $ 54,000 x Selling and Administrative Expenses Interest Expense Net income Check A 0x 36,000 x X 13,500 x 20,250 x $ 33,750