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Wyei 155 60% 33-11 Worksheet for Service Company Whitaker Consulting Company has prepared a trial balance on the following partially completed worksheet for the year

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Wyei 155 60% 33-11 Worksheet for Service Company Whitaker Consulting Company has prepared a trial balance on the following partially completed worksheet for the year ended December 31, 2016: B D E F G O 3.6 0 3.8 J K H Retained Earnings Statement Debit Credit Income Statement Debit Credit Adjustments Debit Credit Sheet Debit Credit 1 2 3 4 Accounts 5 Cash 6 Prepaid Rent 7 Office Equipment 8 Accumulated Depreciation 9 Note Payable due 7/1/17) 10 Common Stock (200 shares) 11 Retained Earnings (1/1/16 12 Dividends 13 Consulting Revenues 14 Salaries Expense 15 Miscellaneous Expenses 16 Totals 17 Trial Balance Debit Credit 3.800 2.400 7.000 1,400 2.000 4,000 3,200 200 6.100 2.500 800 16,700 16.700 Additional information: (a) On January 1, 2016, the company had paid 2 years' rent in advance at $100 a month for office space, (b) the office equipment is being depreciated on a straight-line basis over a 10-year life, and no residual value is expected, (c) interest of $150 has accrued on the note payable but has not been paid, and (d) the income tax rate is 30% on current income and will be paid in the first quarter of 2017. Required: 1. Complete the worksheet. 2. Prepare financial statements for 2016

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