The adjusted trial balance of Manchester Advertising Services, at December 31, 2018, follows. This is the...

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The adjusted trial balance of Manchester Advertising Services, at December 31, 2018, follows. This is the first year of operations Data Table Manchester Advertising Services Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 8,000 Accounts Receivable 12,600 Office Supplies 1,000 Land 50,000 Building 51,000 Accumulated Depreciation-Building 24,000 Furniture 19,000 Accumulated Depreciation-Furniture 6.500 Accounts Payable 5,000 Salaries Payable 900 Unearned Revenue 8,000 Notes Payable (long-term) 9.000 Common Stock 80.700 Dividends 24,000 Requirement 1. Prepare the income statement for the year ended December 31, 2018. Manchester Advertising Services Income Statement Year Ended December 31, 2018 Net Income Requirement 2. Prepare the statement of retained earnings for the year ended December 31, 2018. The adjusted trial balance of Manchester Advertising Services, at December 31, 2018, follows. This is the first year of operations Data Table Manchester Advertising Services Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 8,000 Accounts Receivable 12,600 Office Supplies 1,000 Land 50,000 Building 51,000 Accumulated Depreciation-Building 24,000 Furniture 19,000 Accumulated Depreciation-Furniture 6.500 Accounts Payable 5,000 Salaries Payable 900 Unearned Revenue 8,000 Notes Payable (long-term) 9.000 Common Stock 80.700 Dividends 24,000 Requirement 1. Prepare the income statement for the year ended December 31, 2018. Manchester Advertising Services Income Statement Year Ended December 31, 2018 Net Income Requirement 2. Prepare the statement of retained earnings for the year ended December 31, 2018.

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2018 1 Porepare the Manchester Advestising Services Inc... View the full answer