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Using the adjusted trial balance of Staples inc, presented and the schedules and forms on the following pages :

1.Prepare the income statement.

2. Prepare the statement of retained earnings.

3. Prepare the balance sheet.

4. Prepare the closing entries.

Please mark each step on each question.

Adjusted Trial Balance December 31 Accounts receivable Prepaid insurance office supplies office equipment Accumulated depreciation-office equipment Buildings Accumulated depreciation-buildings.................... Land Wages Payable Property taxes payable Interest payable Unearned rent Long-term notes payable Common stock Retained earnings Dividends Rent earned Wages expense Utilities expense Property taxes expense Insurance expense Office supplies expense Depreciation expense-office equipment Depreciation expense-buildings Interest expense Totals 3,050 830 4,200 1,100 98,000 28,000 115,000 880 1,400 2,200 460 150,000 1,000 39,340 21,000 67,500 29,000 2,900 2,400 5,800 250 400 5,570 3,000 $291,880 S29 l,880