The adjusted trial balance for Destination Realty, Inc. at October 31, 2013, follows:

Requirements
1. Prepare Destination Realty€™s income statement, statement of retained earnings, and year-end balance sheet. List expenses in decreasing order on the income statement.
2. a. Which financial statement reports Destination Realty€™s results of operations?
Were operations successful during 2013? Cite specifics from the financial statements to support your evaluation,
b. Which statement reports the company€™s financial position?

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Destination Realty, Inc Adjusted Trial Balance October 31, 2013 DEBIT ACCOUNT Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Unearned Service Revenue Interest Payable Salary Payable Notes Payable Common Shares Retained Earnings Dividends Service Revenue Interest Revenue Salary Expense Rent Expense Depreciation Expense, Equipment Utilities Expense Interest Expense Supplies Expense Total CREDIT S 6,500 12,100 2,500 500 42,500 $11,300 4,300 2,800 720 9,000 3,960 9,700 5,000 85,000 420 40,000 20,000 2,500 1,800 1,100 700 $135,200 $135.200