Problem 4-03A a-d The completed financial statement columns of the worksheet for Bridgeport Company are as follows. Bridgeport Company Worksheet For the Year Ended December 31, 2019 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. 101 Cash 112 9,100 11,000 2,800 23,800 130 157 201 212 4,700 8,800 2,400 10,400 9,000 311 320 332 400 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Dividends Service Revenue Maintenance and Repairs Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Utilities Expense Totals 9,900 59,800 622 711 722 726 732 1,800 3,100 1,700 30,400 1,500 38,500 59,800 56,600 35,300 Net Income 59,800 21,300 59,800 59,800 21,300 56,600 59,800 55,600 56,600 56,600 Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Bridgeport Company Income Statement For the Year Ended December 31, 2019 Revenues Service Revenue 59800 Expenses Maintenance and Repairs Expense 1800 Depreciation Expense 3100 Insurance Expense 1700 Salaries and Wages Expense 30400 Utilities Expense 1500 Total Expenses 38500 Net Income / (Loss) 21300 Prepare a retained earnings statement. (List items that increase retained earnings first.) Bridgeport Company Retained Earnings Statement For the Year Ended December 31, 2019 Retained Earnings, January 1 9000 Add : Net Income /(Loss) 21300 30300 Less : Dividends 9900 Retained Earnings, December 31 20400 Prepare a classified balance sheet. (List Current Assets in order of liquidity.) Bridgeport Company Balance Sheet For the Year Ended December 31, 2019 Assets Current Assets Cash $ 9100 Accounts Receivable 11000 Prepaid Insurance 2800 Total Current Assets $ 22900 Property, Plant and Equipment Equipment 23800 Less A. Accumulated Depreciation Equipment 4700 19100 Total Assets 42000 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable 8800 Salaries and Wages Payable 2400 Total Current Liabilities $ 11200 Stockholders' Equity Common Stock 10400 Retained Earnings 20400 Total Stockholders' Equity 30800 Total Liabilities and Stockholders' Equity 42000 Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Service Revenue 59800 Income Summary 59800 (To close revenue account.) Dec. 31 Maintenance and Repairs Expense 1800 Depreciation Expense 3100 Insurance Expense 1700 Salaries and Wages Expense 30400 Utilities Expense 1500 Income Summary 38500 (To close expense accounts.) Dec. 31 Retained Earnings 21300 Income Summary 21300 (To close net income / (loss).) Dec. 31 Retained Earnings 9900 Dividends 9900 (To close dividends.) Post the closing entries and balance the accounts. (Post entries in the order of journal entries presented in the previous part.) Retained Earnings No. 320 12/31 21300 12/31 9900 12/31 9900 12/31 Bal. Dividends No. 332 Income Summary No. 350 Service Revenue No. 400 Maintenance and Repairs Expense No. 622 Depreciation Expense No. 711 Insurance Expense No. 722 Salaries and Wages Expense No. 726 Utilities Expense No. 732 Prepare a post-closing trial balance. Bridgeport Company Post-Closing Trial Balance Debit Credit Totals $ Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 2 used