The adjusted trial balance of David Cooper Co. as of December 31, 2020, contains the following. DAVID COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2020

Debit                                                                                       Credit

Cash                            $19,847

Accounts Receivable 7,295

Prepaid Rent               2,655

Equipment                  18,425

Accumulated Depreciation-Equipment                                                                      $5,270

Notes Payable                                                                                                            6,075

Accounts Payable                                                                                                       5,847

Common Stock                                                                                                           20,375

Retained Earnings                                                                                                       11,685

Dividends                                3,375

Service Revenue                                                                                                         11,965

Salaries and Wages Expense 7,215

Rent Expense                          2,230

Depreciation Expense             175

Interest Expense                     113

Interest Payable                                                                                                          113

                                                $61,330                                                                       $61,330

Prepare an income statement. (Enter loss using either a negative sign preceding the number e.g. – (45)

Prepare a statement of retained earnings. (List items that increase retained earnings first.)

Prepare a classified balance sheet. (List current assets in order of liquidity.) with Liabilities and stockholders’ equity

Answer rating: 100% (QA)

To prepare the requested financial statements well use the information provided in the adjusted tria... View the full answer