create from trial balance:

a) income statement using multiple-step format

b) retained earnings

c) balance sheet

Welcome Back Inc. Adjusted Trial Balance December 31, 2018 Debit Credit Cash 14,500,000 Accounts Receivable 11,500,000 Allowance for Doubtful Accounts 300,000 Notes Receivable - Due 2/25/19 1,130,000 Inventory, 12/31/18 18,500,000 Equipment 36,000,000 Accumulated Deperciation - Equipment 12,500,000 Building 4,800,000 Accumulated Deperciation - Building 3,600,000 Land 900,000 Long-Term Investments 9,500,000 Patent 10,000,000 Accounts Payable 12,600,000 Salaries and Wages Payable 400,000 Notes Payable - Due 7/31/19 2,500,000 Mortgage Payable - Due 12/31/2025 2,200,000 Common: $ 0.10 900,000 APIC (Additional Paid in Capital in Excess of Par) 10,600,000 Retained Earnings, 12/31/17 32,500,000 Dividends Declared 1,000,000 Sales 109,550,000 Sales Discounts 1,150,000 Sales Returns and Allowances 2,650,000 Cost of Goods Sold (COGS) 41,650,000 Selling Expenses S 13,800,000 Administrative Expenses 3,250,000 Investment Revenue 400,000 Rent Revenue 80,000 Gain on sale of land 550,000 Loss on sale of equipment 250,000 Interest Expense 450,000 Income Tax Expense 17,650,000 188,680,000 $ 188,680,000