Use the information below to create: $($a$)$ an income statement, $($b$)$ a statement of retained

earnings, and $($c$)$ a balance sheet.

Adjusted Trial Bal.

Account Title Dr$.$ Cr$.$

Cash $11,400$

Accounts Receivable $7,000$

Prepaid Rent $2,000$

Equipment $20,000$

Accum. Depreciation $-$

Equipment

$4,700$

Notes Payable $5,000$

Accounts Payable $4,950$

Owner$$s Capital $25,800$

Owner$$s Drawings $3,500$

Service Revenue $14,000$

Salaries and Wages Expense $9,450$

Rent Expense $500$

Depreciation Expense $600$

Interest Expense $50$

Interest Payable $\_\_\_$

$50$

TOTALS $54,50054,500$