Question

Print 1. The adjusted trial balance for Green Advertising Services is presented below: (Click on the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the income statement for the year ending December 31, 2018. (Use a minus sign or parentheses to show a net loss. If a box is not used in the statement, leave the box emply; do not select a label or enter a zero.) Green Advertising Services Income Statement Year Ended December 31, 2018 (10) Net Income (Loss) Requirement 2. Prepare the statement of relained earnings for the year ending December 31, 2018. (Use a minus sign or parentheses to show a net loss.) Green Advertising Services Statement of Retained Earnings Year Ended December 31, 2018 Retained Earnings, January 1, 2018 (11) (12) Retained Earnings, December 31, 2018

Answer 1

49,800 Green Advertising Services Income Statement Year Ended December 31, 2018 Revenues Service Revenue Expenses Salaries Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Furniture Advertising Expense Total Expenses Net Income (Loss) 28,600 8,400 2,900 1,300 13,500 54,700 (4,900)

Green Advertising Services Statement of Retained Earnings Year Ended December 31, 2018 Retained Earnings, January 1, 2018 Net Loss for the year Dividends Retained Earnings, December 31, 2018 31,400 (4,900) (18,300) 8,200

Green Advertising Services Balance Sheet December 31, 2018 Assets Current Assets Cash Accounts Receivable Office Supplies Total Current Assets 14,000 15,800 6,500 36,300 18,400 11,800 Property, Plant & Equipment Land Buildings Accumulated Depreciation-Buildings Furniture Accumulated Depreciation-Furniture Total Property, Plant & Equipment Total Assets 47,900 (36,100) 19,600 (14,100) 5,500 35,700 72,000 Liabilities & Stockholders Equity Current Liabilities Accounts Payable Salaries Payable Unearned Revenue Total Liabilities 10,600 7,200 16,000 33,800 Stockholders Equity Common Stock Retained Earnings Total Stockholders Equity Total Liabilities & Stockholders Equity 30,000 8,200 38,200 72,000