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income statement, balance sheet and retained earnings

The adjusted trial balance of Jacks Financial Planners appears below and using the information from the adjusted trial balance, you are to prepare for the month ending December 31:
1. an income statement;
2. a retained earnings statement; and
3. a balance sheet.
Adjusted Trial Balance
December 31, 2007

Debit Credit
Cash $ 17,400
Accounts Receivable 2,200
Office Supplies 1,800
Office Equipment 15,000
Accumulated Depreciation?Office Equipment $ 4,000
Accounts Payable 4,000
Unearned Service Revenue 5,000
Common Stock 17,000
Retained Earnings 7,400
Dividends 2,500
Service Revenue 6,500
Office Supplies Expense 600
Depreciation Expense 2,500
Rent Expense 1,900
$43,900 $43,900

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Dear student,

** Solution to your posted problem is provided herewith in a separate excel file attached. **

Details are as under:
1 Income statement: Net income comes to $ 1500 after ...

Solution Summary

The expert examines income statements, balance sheets and retained earnings for Jacks Financial Planners.