Trial Balance and Financial Statements The following account balances, in alphabetical order, are from the general ledger of The Nina Service Company at January 31. The firm began business on January 1. All accounts have normal balances. Accounts payable $9,200 Notes payable Accounts receivable 39,000 Rent expense $12,000 2,900 Advertising expense Cash 840 Salaries expense 20,800 Service fees earned 16,000 53,020 Common stock 56,180 Supplies 17,920 Dividends 11,000 Supplies expense 20,500 Interest expense 800 Utilities expense 640 Required a. Prepare a trial balance from the given data. b. Prepare an income statement for the month of January. c. Prepare a statement of stockholders' equity for the month of January. d. Prepare a balance sheet as of January 31. Note: Do not use negative signs with your answers, unless otherwise noted (such as Dividends). NINA SERVICE COMPANY Trial Balance January 31 Debit Credit Cash $ 20,800 $ 0 Accounts Receivable 39,000 0 Supplies 17,920 0 Accounts Payable 0 9,200 Notes Payable 0 12,000 Common Stock 0 56,180 Dividends 11,000 0 Service Fees Earned 0 53,020 Advertising Expense 840 0 Interest Expense 800- 0 Rent Expense 2,900 0 Salaries Expense 16,000 0 Supplies Expense 20,500 0 Utilities Expense 6,400 x 0 Totals $ 130,400 $ 130,400 Revenue NINA SERVICE COMPANY Income Statement For the Month Ended January 31 Service Fees Earned Expenses Advertising Expense Interest Expense $ 530,200 x 840 800- Rent Expense 2,900 Salaries Expense 16,000 Supplies Expense 20,500 Utilities Expense 6,400 x Total Expenses 41,680 Net Income $ 11,340 Add: Capital contributed Balance, January 1 Add: Net Income NINA SERVICE COMPANY Statement of Stockholders' Equity For the Month Ended January 31 Common Stock Retained Earnings Total $ 0 $ 0 0 x 0 0 x 0 11,340 11,340 Less: Dividends Paid(enter as negative) 11,000 x 0 x 0 x Balance, January 31 $ 0 x $ 0 x $ 0 x NINA SERVICE COMPANY Balance Sheet January 31 Liabilities Assets Accounts Payable 0 x Accounts Payable Accounts Receivable 0 x Notes Payable Supplies 0 x Total Liabilities Stockholders' Equity. Supplies $ 0 x 0 x 0 x 0 x Accounts Receivable Total Stockholders' Equity 0 x 0 x Total Assets $ 0x Total Liabilities and Stockholders' Equity $ 0 x