Check your knowledge! If you complete all parts with a 95% score, you will unlock access to all activities and can proceed to prove your mastery. You can attempt this as many times as you want. Your work will be saved as you work through each part. Using the Adjusted Trial Balance, complete the Income Statement, Statement of Retained Earnings, and Balance Sheet. Enter any decreases with a minus sign or parentheses. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Debit Credit Account Title Cash 19,500 Revenue: Accounts Receivable 10,800 Office Supplies 200 Expenses: Prepaid Rent 13,000 Furniture 22,700 Accumulated Depreciation--Furniture 7,800 Accounts Payable 2,600 Salaries Payable 600 Interest Payable 300 Total Expenses Unearned Revenue 6,500 Net Income Notes Payable 9,100 Common Stock 12,700 Retained Earnings 13,000 Dividends 33,000 Service Revenue 58,900 Depreciation Expense--Furniture 2,600 Interest Expense 300 Rent Expense 3,900 Salaries Expense 4,500 Supplies Expense 1,000 Total 111,500 111,500 Assets Liabilities Less: Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Assets Total Liabilities and Stockholders' Equity Prepare the Statement of Cash Flows for Smart Touch Learning for the month ended December 31, 2016 from the provided information. Within each section of the statement, use the drop- down menus to enter the accounts. Then enter the account balances and calculate ending balances. Enter decreases in cash with a minus sign or parentheses. Cash balance, December 1, 2016 is $18,500 Transactions Dec. 1 Common stock was issued to stockholders for $7,800 cash. Purchased equipment for $2,000 on account. 14 Paid $20,100 cash for land. 17 Paid cash expenses: office rent, $1,700; employees' salaries, $1,300; utilities, $80. 23 Paid cash dividends of $2,300. 26 Earned service revenue for the month, $5,000, receiving cash. Cash flows from Receipts: Payments: Net cash provided (used) by Cash flows from Net cash provided (used) by Cash flows from Net cash provided (used) by Net increase (decrease) in cash Cash balance, December 1, 2016 Cash balance, December 31, 2016