Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balance of Russell Engineering.

Required:
Prepare an income statement, statement of stockholders’ equity, and classified balance sheet. In preparing the statement of stockholders’ equity note that additional common stock was issued during the year for $8,000. This amount is included in the amount for Common Stock in the adjusted trialbalance.

Transcribed Image Text:

Russell Engineering Adjusted Trial Balance December 31. 2015 Debits S 5,500 4,200 2.300 6,100 114.000 Credits Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Pavable Salaries Payable Utilities Payable Notes Payable Common Stock Retained Eamings Service Revenue Salaries Expense Rent Expense Depreciation Expense Supplies Expense Advertising Expense Utilities Expense Interest S 25,000 3600 3.500 1,500 20,000 44,800 20,200 118,500 45,000 17,600 6,000 9,400 15.000 10,800 1,200 S237,100 Expense Totals