Assignment 2, Chapte + Page Layout References Mailings Review View Calibri (Body) 11 EF 24 B / U abe x, X Aa er Font Paragraph C..1...2 ...3 ...4...5.. Given the adjusted trial balance for Stylish Cuts Ltd. below as of December 31, 2019 prepare: 1. The income statement, 2. The statement of retained earnings 3. Closing entries for December 31, 2019. Financial Statements must include appropriate headings. No explanations are required for the closing entries. (provide answers in the templates below). Stylish Cuts Ltd. Adjusted Trial Balance December 31, 2019 Debit Credit Cash $ 18,750 $ $ $ 9,000 11,000 3,300 65,000 s S s $ s S Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation equipment Accounts payable Uneamed service revenue Salary payable Common shares Retained earnings Dividends Service revenue Administrative expense Advertising expense Depreciation expense Supplies expense Utilities expense Wages expense 8,800 9,600 5,000 2,700 30,000 48,050 S $ 2,000 $ 47,000 $ $ S $ 7,000 1,500 2,100 1.300 9,400 20,300 5151, 150 $ S $151.150 ARA