ation.com/ext/map/index.html?_con=con&external browser=0B_launchUrl=https%253A 252Fnewcon... ed Homework Saved M4-14 through M4-17 Reporting an Income Statement, Reporting a Statement of Retained Earnings Reporting a Balance Sheet and Recording Closing Journal Entries [LO 4-4, LO 4-5) [The following information applies to the questions displayed below) The Sky Blue Corporation has the following adjusted trial balance at December 31 Credit Debit $ 1,390 3,600 4,600 20,000 Cash Accounts Receivable Prepaid Insurance Notes Receivable (long-term) Equipment Accumulated Depreciation Accounts Payable Salaries and Wages Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Dividends Sales Revenue Rent Revenue Salaries and Wages Expense Depreciation Expense Utilities Expense Insurance Expense Rent Expense Income Tax Expense Total $ 5,800 7,620 1,800 4,500 920 4,000 1,640 460 56,4 460 24,800 2,900 5,820 3,000 7.600 4.500 $82,570 $82,570 16% 8 Prisc Tre F8 F10 F11 F12 * % 5 & 7. 8 C 9 ) 0 6 g + 11 8 Saved 4 Assigned Homework M4-14 4 Required: 1. Prepare an income statement for the year ended December 31. 2. How much net income did the Sky Blue Corporation generate during the year? -K Complete this question by entering your answers in the tabs below. hces Required 1 Required 2 Prepare an income statement for the year ended December 31. SKY BLUE CORPORATION Income Statement S