ZO Q Q Search Search 7. Using the information given below, prepare an income statement, statement of retained earnings, and balance sheet, in proper form, for Rapid Car Services, Inc. from the adjusted trial balance. The stockholders did not make any additional investments in the company during the year. (28 Points) Rapid Car Services, Inc. Adjusted Trial Balance For the year ended December 31 Cash ......... $ 33,000 Accounts receivable ........ 14,200 Office supplies ........ 1,700 Vehicles .. 100,000 Accumulated depreciation - Vehicles ............ Accounts payable ... Common stock Retained earnings Dividends 40,000 Fees earned ....... Rent expense ..... 13,000 Office supplies expense ............. 2,000 Utilities expense 2,500 Depreciation Expense 15,000 Salary expense ........... 50,000 Fuel expense .. 12,000 Totals S283,400 45,000 11,500 1,000 70,900 155,000 S283,400