QS $3-19($Algo$)$ Preparing financial statements LO P$5$

The adjusted trial balance for Happ Company follows.

Adjusted Trial Balance

December $31$

Number Account Title Debit Credit

$101$ Cash $ $8,800$

$106$ Accounts receivable $38,456$

$153$ Trucks $43,000$

$154$ Accumulated depreciation$$Trucks $ $17,286$

$183$ Land $30,000$

$201$ Accounts payable $20,504$

$209$ Salaries payable $4,690$

$233$ Unearned revenue $4,090$

$307$ Common stock $18,000$

$318$ Retained earnings $52,597$

$319$ Dividends $18,509$

$401$ Plumbing revenue $72,000$

$611$ Depreciation expense$$Trucks $5,762$

$622$ Salaries expense $33,696$

$640$ Rent expense $10,944$

Totals $ $189,167$ $ $189,167$

Use the adjusted trial balance to prepare the December $31$ year$-$end income statement.

Use the adjusted trial balance to prepare the December $31$ year$-$end statement of retained earnings. The Retained earnings account balance was $$52,597$ on December $31$ of the prior year.

Use the adjusted trial balance to prepare the December $31$ year$-$end balance sheet.