Paulson's Pet Store completed the work sheet below for the year ended December 31, 20--. Owner's equity as of January 1, 20--, was $21,900 and the Accounts Receivable balance on January 1, 20--, was $3,800. The current portion of Mortgage Payable is $500. All sales are credit sales.

Paulson's Pet Store Work Sheet For Year Ended December 31, 20 --
	TRIAL BALANCE	ADJUSTMENTS	ADJUSTED TRIAL BALANCE	INCOME STATEMENT	BALANCE SHEET
ACCOUNT TITLE	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT	DEBIT	CREDIT
Cash	15,860				15,860				15,860
Accounts Receivable	2,340				2,340				2,340
Merchandise Inventory	15,000		(b) 16,500	(a) 15,000	16,500				16,500
Supplies	800			(c) 200	600				600
Prepaid Insurance	600			(d) 150	450				450
Equipment	5,000				5,000				5,000
Accum. Depr.Equipment		450		(e) 450		900				900
Accounts Payable		4,890				4,890				4,890
Wages Payable				(f) 300		300				300
Sales Tax Payable		860				860				860
Mortgage Payable		4,000				4,000				4,000
B. Paulson, Capital		23,900				23,900				23,900
B. Paulson, Drawing	1,200				1,200				1,200
Income Summary			(a) 15,000	(b) 16,500	15,000	16,500	15,000	16,500
Sales		71,510				71,510		71,510
Sales Returns and Allowances	1,340				1,340		1,340
Purchases	40,660				40,660		40,660
Purchases Returns and Allowances		1,020				1,020		1,020
Purchases Discounts		800				800		800
Freight-In	400				400		400
Wages Expense	22,300		(f) 300		22,600		22,600
Advertising Expense	300				300		300
Supplies Expense			(c) 200		200		200
Phone Expense	684				684		684
Utilities Expense	716				716		716
Insurance Expense			(d) 150		150		150
Depr. ExpenseEquipment			(e) 450		450		450
Miscellaneous Expense	150				150		150
Interest Expense	80				80		80
	107,430	107,430	32,600	32,600	124,680	124,680	82,730	89,830	41,950	34,850
Net Income							7,100			7,100
							89,830	89,830	41,950	41,950

Required: