AB COMPANY, LTD.

Worksheet
For the Year Ended December 31, 2022 15

Adjusted Trial Income Statement of

Account Titles Balance Statement Financial Position
Dr Cr Dr Cr Dr Cr
Cash 5,300
Accounts Receivable 10,800
Supplies 1,500
Prepaid Insurance 2,000
Equipment 27,000
Accumulated Depreciation—Equipment 5,600
Notes Payable 15,000
Accounts Payable 4,600
Salaries and Wages Payable 2,400
Interest Payable 600
Share Capital—Ordinary 10,000
Retained Earnings 4,200
Dividends 5,000
Service Revenue 59,000
Advertising Expense 8,400
Supplies Expense 4,000
Depreciation Expense 5,600
Insurance Expense 3,200
Salaries and Wages Expense 28,000
Interest Expense 600
Totals 101,400 101,400
Net Income (Loss)
Totals
Instructions:
1. Complete the worksheet by extending the balances to the financial statement columns.
2. Prepare an income statement, a retained earnings statement, and a classified statement of financial position.