g$.$ On December $31,$ PPSS had $$4,700$ of pool cleaning supplies on hand after purchasing supplies costing $$27,300$

during the year from Pool Corporation, Incorporated.

h$.$ PPSS estimated that depreciation on its buildings and equipment was $$10,200$ for the year.

i$.$ At December $31,$ $$300$ of interest on investments was earned that will be received in the next year.

j$.$ The company's income tax rate for the year was $22$ percent. Prepare an income statement $($including earnings per share$).$

Note: Do not round intermediate calculations. Round "Earnings per share" to $2$ decimal places.Balance Sheet

On December $31$

$\backslash$table$[[$Assets$],[$Current Assets:$],[$Cash$,-,],[$Short$-$term investments,?,$],[$Accounts receivable,r$,],[$Interest receivable,$+,],[$Supplies$,*,],[$Prepaid expenses,?,$],[?,?,],[?,?,],[$Total current assets,,$0],[$Land$,?,],[$Equipment$,,],[$Buildings$,?,],[$Accumulated depreciation,?,$],[?,?,],[,,],[$Net property and equipment,,$0],[$Total Assets,$$,0],[$Liabilities and Stockholder's Equity$],[$Current Liabilities:$],[$Accounts payable,?,$],[$Wages payable,$+,],[$Utilities payable,,$],[$Unearned revenue,,$],[$Interest payable,,$],[$Income taxes payable,,$],[$Notes payable $($current$),,],[$P$,,],[$Total current liabilities,,$0],[$Notes payable $($non$-$current$),?,],[$P$,,],[$Total liabilities,,$0],[$Stockholder$\text{'}$s equity$],[$Common stock,,$],[$Additional paid$-$in capital,,$],[$Retained earnings,,$],[,,],[$Total stockholder's equity,,$0],[$Total Liabilities and Stockholder's Equity,$$,0]]$Penny$\text{'}$s Pool Service & Supply, Incorporated $($PPSS$)$ is completing the accounting process for the first year of operations

ended on December $31.$ Transactions during the year have been journalized and posted. The following trial balance

reflects the unadjusted balances on December $31$:

a$.$ PPSS owed $$9,400$ in wages to the office receptionist and three assistants for working the last $10$ days in December.

The employees will be paid in early next year.

b$.$ On October $1$ of the current fiscal year, PPSS received $$29,700$ from customers who prepaid pool cleaning service

for one year beginning on November $1$ of the current year.

c$.$ The company received a $$710$ utility bill for December utility usage. It will be paid early next year.

d$.$ PPSS borrowed $$83,000$ from a local bank on August $1,$ signing a one$-$year, $12$ percent note. The note and interest

are due on August $1$ of next year.

e$.$ On December $31,$ PPSS cleaned and winterized a customer's pool for $$990,$ but the service was not yet recorded on

December $31.$

f$.$ On November $1$ of the current fiscal year, PPSS purchased a two$-$year insurance policy for $$7,200,$ with coverage

beginning on that date. The amount was recorded as Prepaid Expenses when paid.

g$.$ On December $31,$ PPSS had $$4,700$ of pool cleaning supplies on hand after purchasing supplies costing $$27,300$

durina the vear from Pool Corboration. Incorborated.