The following is a list of accounts for Speedy Delivery Service, Inc. at July 31, 2012:

Additional information: During the year, the company issued common shares for $11,000.
Instructions
(a) Prepare a trial balance.
(b) Prepare an income statement for the year ending July 31, 2012, along with a statement of changes in equity, and statement of financial position.
(c) If you did not know the retained earnings amount in the trial balance, could you have prepared the financial statements in (b)?

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Accounts payable Accounts receivable Accumulated depreciation Cash Common shares Equipment Depreciation expense Dividends Gas and oil expense Income tax expense Insurance expense 9,500 12,500 21,400 8,000 38,000 99,000 9,700 800 4,750 4,500 1,800 Interest expense Bank loan payable, due 2015 Prepaid insurance Rent expense Repairs and maintenance expense Re tained earnings, Aug. 1, 2011 Salaries expense Salaries payable Service revenue Short-term investments