The completed financial statement columns of the worksheet for Hubbs Company are shown below.

Prepare an income statement.
Prepare retained earnings statemet.
Prepare the closing entires.
Post the closing entires and balance the accounts. (Use 1-accounts. ) Income Summary is account
Prepare a post -closing trial balance.

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Hubbs Company Worksheet For the Year Ended December 31, 2014 Income Balance Sheet Statement Account Account Titles Dr. Cr. Dr. Cr. No. 101 Cash 6,829 Accounts Receivable 112 7,478 Prepaid Insurance 130 1,883 Equipment 157 33,218 167 Accumulated Depreciation-Equip. 9,989 201 Accounts Payable 11,495 Salaries and Wages Payable 212 3,053 Common Stock 20,040 311 Retained Earnings 10,500 320 Dividends 332 2,046 400 Service Revenue 43,170 Maintenance and Repairs Expense 622 3,729 Depreciation Expense 711 2,804 Insurance Expense 722 1,297 Salaries and Wages Expense 726 35,180 Utilities Expense 3,783 732 Totals 43,170 46,793 51,454 55,077 3,623 Net Loss 3,623 46,793 46,793 55,077 55,077