Alternate problem E The following data are for Bayer Lamp Company:

Bayer Lamp Company Trial Balance 2010 December 31 Acct. Account Title Debits Credits No.

100 Cash $ 228,800 103 Accounts Receivable 193,200 105 Merchandise Inventory, 2010 January 1 166,400 108 Prepaid Insurance 11,600 130 Land 240,000 140 Building 440,000 141 Accumulated Depreciation – Building $ 132,000 174 Store Fixtures 222,400 175 Accumulated Depreciation – Store Fixtures 44,480 200 Accounts Payable 151,600 300 Capital Stock 400,000 310 Retained Earnings, 2010 January 1 480,720 410 Sales 2,206,000 411 Sales Discounts 14,800 412 Sales Returns and Allowances 8,000 418 Interest Revenue 1,600 500 Purchases 1,251,600 501 Purchases Discounts 10,400 502 Purchases Returns and Allowances 5,600 503 Transportation-In 29,200 505 Advertising Expense 48,000 508 Sales Salaries Expense 256,000 509 Office Salaries Expense 296,000 519 Delivery Expense 18,400 540 Interest Expense 8,000

$ 3,432,400 $ 3,432,400 Depreciation expense on the store building is USD 8,800.

 Depreciation expense on the store fixtures is USD 22,240.

 Accrued sales salaries are USD 5,600.

 Insurance expired in 2010 is USD 10,000.

 Cost of merchandise inventory on hand 2010 December 31, is USD 222,000.

Prepare the following:

a. A work sheet for the year ended 2010 December 31. Refer to the chart of accounts shown in a separate file at the end of the text for any other account numbers you need.

b. A classified income statement. The only administrative expenses are office salaries and insurance. The building depreciation is on the store building.

c. A statement of retained earnings.

d. A classified balance sheet.

e. The required closing entries.