The following accounts are taken from Foresters, Inc., a company that specializes in recovering from cognitive problems, as of December 31.

Foresters, INC. Unadjusted Trial Balance At December 31
Account Name	Debits	Credits
Cash	$ 59,750
Accounts Receivable	3,300
Prepaid Insurance	4,700
Equipment	64,600
Land	23,000
Accounts Payable		$ 29,230
Deferred Revenue		1,500
Notes Payable (long-term)		74,000
Common Stock		5,000
Retained Earnings		14,500
Dividends	0
Service Revenue		35,700
Salaries and Wages Expense	3,900
Repairs and Maintenance Expense	410
Office Expenses	270
Totals	$159,930	$159,930

Required:

Using the unadjusted trial balance provided,

• Create an Income Statement for Foresters, Inc., for the year ended December 31.
• Create a Classified Balance Sheet for Foresters, Inc., for the year ended December 31.

Answer rating: 100% (QA)

Solution Forsters Inc Statement of Comprehensive Income for the year ending Dec 31 Amt ... View the full answer