Required information

Problem 3-32A Comprehensive problem: single cycle LO 3-1, 3-2, 3-3, 3-4

[The following information applies to the questions displayed below.]

The following transactions pertain to Smith Training Company for Year 1:

Jan.	30		Established the business when it acquired $48,000 cash from the issue of common stock.
Feb.	1		Paid rent for office space for two years, $17,400 cash.
Apr.	10		Purchased $870 of supplies on account.
July	1		Received $20,000 cash in advance for services to be provided over the next year.
	20		Paid $653 of the accounts payable from April 10.
Aug.	15		Billed a customer $9,500 for services provided during August.
Sept.	15		Completed a job and received $3,400 cash for services rendered.
Oct.	1		Paid employee salaries of $35,500 cash.
	15		Received $9,000 cash from accounts receivable.
Nov.	16		Billed customers $30,000 for services rendered on account.
Dec.	1		Paid a dividend of $800 cash to the stockholders.
	31		Adjusted records to recognize the services provided on the contract of July 1.
	31		Recorded $2,350 of accrued salaries as of December 31.
	31		Recorded the rent expense for the year. (See February 1.)
	31		Physically counted supplies; $80 was on hand at the end of the period.

Problem 3-32A Part c. Prepare a trial balance. (Round your final answers to the nearest whole dollar amount.) SMITH TRAINING COMPANY Trial Balance December 31, Year 1 Account Titles Debit Credit Totals d. Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1. (Round your final answers to the nearest whole dollar amount. Statement of Cash Flows only, items to be deducted must be indicated with a negative amount.) SMITH TRAINING COMPANY Financial Statements For the Year Ended December 31, Year 1 Income Statement Expenses Total expenses Statement of Changes in Stockholders' Equity Total Stockholders' Equity SMITH TRAINING COMPANY Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities: Net cash flow from operating activities Cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities Ending cash balance