Using the information given below, prepare an income statement, Statement of Retained Earnings and balance sheet...

Using the information given below, prepare an income statement, Statement of Retained Earnings and balance sheet for Hanson Storage from the adjusted trial balance. No additional investments in the company were made during the year. ( really need help with making an income statement, statement of retained earnings, and balance sheet.

HANSON PRODUCTS COMPANY Adjusted Trial Balance December 31, 2018
	Debit	Credit
Cash	$ 14,400
Accounts receivable	35,000
Allowance for doubtful accounts		800
Merchandise inventory	50,400
Office supplies	900
Prepaid Insurance	1,200
Equipment	60,000
Accumulated depreciation – equipment		25,000
Accounts payable		12,000
Notes payable		10,000
Common stock		40,000
Retained earnings		22,250
Dividends	21,000
Net Sales		320,300
Cost of goods sold	205,000
Sales salaries expense	32,500
Depreciation expense – equipment	7,500
Office supplies expense	1,300
Interest expense	600
Bad Debts Expense	200
Insurance Expense	350



Totals	$430,350	$430,350

Income Statement

Expert Solution

ekkarill92 answered 8 months ago

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