The accounts of Wellington Electronics Repair, Inc., and their normal balances at October 31, 2018, follow. The accounts are listed in no particular order.

Requirements

1. Prepare the company?s trial balance at October 31, 2018, listing accounts in the proper order. List the largest expense first, the second-largest expense next, and so on.

2. Prepare the month-end financial statements: income statement, statement of retained earnings, and balance sheet. The Retained Earnings balance of $14,840 is the beginning balance for the month; it has not been updated for the current month?s net income or loss.

3. Was October a profitable month for Wellington Electronics Repair, Inc.? Why or why not?

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Account Balance $45,000 Common Stock Insurance Expense. Accounts Payable. 225 3,300 7,750 58,000 Service Revenue Land. Supplies Expense.. Cash. Salaries Expense. 480 15,100 5,200 135,000 2,400 1,500 535 Building. Rent Expense . Dividends. Utilities Expense. Retained Earnings. Accounts Receivable Notes Payable .. Supplies. 14,840 4,200 152,000 250