The adjusted trial balance for Bayside Realty, Inc., at November 30, 2018, follows:

Requirements

1. Prepare Bayside Realty?s income statement and statement of retained earnings for the year ended November 30, 2018, and year-end balance sheet. List expenses in decreasing order on the income statement.

2. a. Which financial statement reports Bayside Realty?s results of operations? Were operations successful during 2018? Cite specifics from the financial statements to support your evaluation.

b. Which statement reports the company?s financial position?

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Bayside Realty, Inc. Adjusted Trial Balance November 30, 2018 DEBIT ACCOUNT CREDIT $ 10,200 7,300 Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation, Accounts Payable 1,200 800 53,000 $ 6,600 uipment 5,400 2,700 Unearned Service Revenue Interest Payable Salaries Payable Notes Payable 610 3,600 10,250 34,000 Common Stock Retained Earnings 10,650 15,000 Dividends 88,000 Service Revenue Interest Revenue 775 Salaries Expense Rent Expense Depreciation Expense, Equipment Utilities Expense Interest Expense Supplies Expense 51,300 15,825 3,800 2,700 960 500 $162,585 Total $162,585