Question: Given the adjusted trial balance for Vancouver Inc. below as of December 31, 2019 prepare the income statement for the year ended December 31, 2019.
Given the adjusted trial balance for Vancouver Inc. below as of December 31, 2019 prepare the income statement for the year ended December 31, 2019. Adjusted Trial Balance 31-Dec-19 Debit Credit Cash $92,500 Accounts receivable 40,200 Supplies 1550 820 Prepaid insurance Equipment 42,000 $15,800 Accumulated depreciation equipment Accounts payable 16,500 Uneared service revenue 12,700 47,750 Salary payable Common shares 23,295 Retained earnings 40,000 Dividends 10,000 Service revenue 82,500 Salary expense 32,850 Supplies expense 3,22 Insurance expense 3700 Depreciation expense-equipment 8400 Utilities expense 3.300 $238.545 $238 545
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