Question: Given the adjusted trial balance below, prepare (in good form) an income statement, statement of retained earnings, and balance sheet. The name of the business

Given the adjusted trial balance below, prepare (in good form) an income statement, statement of retained earnings, and balance sheet. The name of the business is Reserve Cleaning Service and the accounting period coincides with the calendar year.

Adjusted Trial Balance December 31, 2020

Cash

$ 530

Accounts Receivable

1,200

Supplies

20

Prepaid Insurance

20

Office Equipment

2,000

Accumulated Depreciation-Office

$ 300

Equipment

Accounts Payable

1,200

Salaries Payable

70

Common Stock

1,000

Retained Earnings, Dec. 31, 2019

400

Service Revenue Earned

2,200

Salaries Expense

1,120

Supplies Expense

80

Insurance Expense

100

Depreciation Expense-Office Equipment

100

$5,170

$5,170

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