E-5-11 (LO 2) Balance Sheet Preparation Presented below is the adjusted trial balance of Kelly Corporation at December 31, 2020. Kelly Corporation Trial Balance December 31, 2020 Cash $ Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Trademarks Accounts Payable Salaries and Wages Payable Unearned Service Revenue Bonds Payable (due 2027) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Rent Expense Interest Expense Total Additional information: 1. Net loss for the year was $2,500. 2. No dividends were declared during 2020. Instructions: Prepare a classified balance sheet as of December 31, 2020. Calculation of cash balance: total liabilities and shareholders equity 3 minus assets of supplies $ prepaid insurance equipment trademarks total minus halal nn- .lnmnnt Debit 1,200 1.000 48.000 950 9,000 1.400 1.200 900 54.000 (1,200) (1,000) (43,000) (950) (51,150) A nnn $ Credit 4,000 10. 000 500 2. 000 9. 000 10. 000 25. 000 10. 000