1 Using the Adjusted Trial Balance, complete the Income Statement, Statement of Retained Earnings, and Balance Sheet. Enter any decreases witha minus sign or parentheses. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Debit Account Title Credit Cash 15,100 Accounts Receivable 8,300 Office Supplies 200 Prepaid Rent 10,000 Furniture 17,600 Accumulated Depreciation--Furniture 6,000 Accounts Payable 2,000 Salaries Payable 500 Interest Payable 300 Unearned Revenue 5,000 Notes Payable 7,000 Common Stock 9,800 Retained Earnings 10,000 Dividends 25,600 45,800 Service Revenue Depreciation Expense--Furniture 2,000 Interest Expense 300 3,000 Rent Expense Salaries Expense 3,500 Supplies Expense 800 Total 86,400 86,400 Adjusted Trial Balance Balance Sheet December 31, 2016 Income State ment Month Ended December 31, 2016 SMART BOOKS LEARNING SMART TOUCH LEARNING Revenue: Statement of Cash Flows Statement of Retained Earnings Unadjusted Trial Balance Expenses: Total Expenses Net Income Dividends Net income for the year Retained Earnings, December 1, 2016 Retained Earnings, December 31, 2016 Adjusted Trial Balance Balance Sheet December 31, 2016 Income Statement Month Ended December 31, 2016 SMART BOOKS LEARNING SMART TOUCH LEARNING Liabilities Assets Statement of Cash Flows Statement of Retained Earnings Unadjusted Trial Balance Less: Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities and Stockholders' Total Assets Equity Prepare the Statement of Cash Flows for Smart Touch Learning for the month ended December 31, 2016 from the provided information. Within each section of the statement, use the drop-down menus to enter the accounts. Then enter the account balances and calculate ending balances. Enter decreases in cash with a minus sign or parentheses. Cash balance, December 1, 2016 is $18,300 Transactions Dec Common stock was issued to stockholders for $7,800 cash. 1 Purchased equipment for $1,800 on account. Paid $19,900 cash for land. 14 Paid cash expenses: office rent, $1,500; employees' salaries, $1,300; utilities, $70. 17 23 Paid cash dividends of $2,300. 26 Earned service revenue for the month, $4,900, receiving cash. Adjusted Trial Balance Balance Sheet December 31, 2016 Income Statement Month Ended December 31, 2016 SMART BOOKS LEARNING SMART TOUCH LEARNING Cash flows from Statement of Cash Flows Statement of Retained Earnings Unadjusted Trial Balance Receipts: Cash flows from financing activities investing activities operating activities Receipts: Payments: Net cash provided (used) by Ca flc from Net cash provided (used) by Cash flows from Net cash provided (used) by Net increase (decrease) in cash Cash balance, December 1, 2016 Cash balance, December 31, 2016 Cash flows from Receipts Acquisition of land Collections from customers For rent For salaries For utilities Issuance of common stock Payment of cash dividends Net cash provided (used) by Cash flows from Net cash provided (used) by Cash flows from Net cash provided (used) by Net increase (decrease) in cash Cash balance, December 1, 2016 Cash balance, December 31, 2016