Exercise 3 : Prepare the: 1. Income Statement, 2. Statement of Retained earning, 3. Balance Sheet 4. Closing entries The adjusted trial balance of Yahoo Company as of December 31, 2020 is as below: Yahoo Company Account Names Adjusted Trial Balance Debit Credit Cash 130,000 Accounts Receivable 15,250 Office supplies 700 Prepaid rent 3700 Furniture 35,000 Accumulated Depreciation 2,300 Furniture Building 148,000 Accumulated Depreciation - Building 1500 Land 120,000 Accounts Payable 4,400 Utilities payable 440 Salaries payable 5,720 Interest Payable 300 Unearned revenue 980 Notes payable 35,000 Common stock 274,800 Dividends 40,000 Service revenue 250,000 Rent Expense 40,280 Salaries Expense 20,300 Supplies Expense 500 Utilities Expense 19.000 Depreciation expense - Furniture 1300 Depreciation expense - Building 980 Interest expense 430 Total 575,440 575,440