The adjusted trial balance of Anderson Cooper Co. as of December 31, 2020, contains the following.

Instructions

a. Prepare an income statement.

b. Prepare a retained earnings statement.

c. Prepare a classified balance sheet.

Transcribed Image Text:

Anderson Cooper Co. Adjusted Trial Balance December 31, 2020 Cr. Dr. Cash $19,472 Accounts Receivable 6,920 Prepaid Rent 2,280 Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable 18,050 $ 4,895 5,700 5,472 Common Stock 20,000 Retained Earnings 11,310 Dividends 3,000 Service Revenue 11,590 Salaries and Wages Expense 6,840 Rent Expense Depreciation Expense Interest Expense Interest Payable 2,260 145 83 83 $59,050 $59,050