Question: : Rawlings guide services perform adjusting entries every month. The company's yearend adjusted trial balance dated December 31, 2019 follows. RawlingsGuide Services Inc. Adjusted Trial

: Rawlings guide services perform adjusting entries every month. The company's yearend adjusted trial balance dated December 31, 2019 follows.

RawlingsGuide Services Inc.

Adjusted Trial Balance

December 31, 2019

Cash $ 12200

Account receivable 31000

Camping supplies 7900

Unexpired insurance 2400

Equipment70,000

Accumulated depreciation: equipment $ 60000

Notes payable 18000

Accounts payable 9500

Capital stock 25000

Retained earnings 15000

Dividends1000

Guide revenue earned 102000

Salary expense 87500

Camping supplies expense1200

Insurance expense9600

Depreciation expense: equipment 5000

Interest expense 1700

Total$ 229,500$ 229,500

REQUIRED: Prepare income statement and statement of retained earnings for the year ended December 31, 2019. Also prepare balance sheet dated December 31, 2019

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