TR Retailer has the following unadjusted trial balance at its year end, December 31,2018

TR Retailer
Adjusted Trial Balance
December 31, 2018
Account Title	DR	CR
Cash	12,800
Accounts Receivable	32,400
Prepaid insurance	2,400
Equipment	65,000
Accumulated Deprecation		53,000
Accounts Payable		39,500
Interest Payable		0
Unearned Revenue		7,600
Notes Payable		20,000
Rogers, Capital		32,660
Rogers, Withdrawals	8,500
Sales Revenue		164,800
Cost of Goods Sold	74,160
Depreciation Expense	0
Insurance Expense	0
Interest Expense	0
Rent Expense	26,000
Telephone Expense	4,800
Total	267,560	267,560

Regarding the notes payable, $10,000 will be paid by December 31, 2019.

TR Retailer also had the following adjusting entries that had to be entered into the books. 1. Interest accrued on the notes payable was $80. 2. Insurance used as of December 31, 2018 was $400. 3. TR Retailer had earned $1,000 of unearned revenue. Assume no accompanying COGS entry. 4. Depreciation for the year was $600.

1. Complete the work sheet for TR Retailer for December 31, 2018.

	unadjusted trial Balance		Adjustments		Adjusted trial Balance
Account title	Dr	Cr	Dr	Cr	Dr	Cr

2. Based on the values from the adjusted trial balance from part a), complete a multiple-step income statement and a classified balance sheet.