Chrome File Edit View History Bookmarks People Window Help Chapter 3 Hw × v MMcGraw-Hill Connect ! ezto.mheducation.com/hm.tpx Bookmarks M3-20 Preparing Financial Statements from a Trial Balance LO 3-1, LO 3-4 The folowing accounts are taken from Equiltbrium Riding. Inc. a company that specializes in occupational therapy and horseback riding lessons, as of December 31 EQUILIBRIUM RIDING, INC Unadjusted Trial Balance At December 31 t Name Debits Credits S 74,400 7,100 8,050 74,100 31,950 Cash Prepaid Insurance Land Accounts Payable Unearned Revenue Notes Payable (long-term) Common stock Retained Earnings Dividends Service Revenue Wages Expense Repairs and Maintenance Expense Office Expenses 33,250 1,550 67,000 5,000 68,355 27,000 440 765 Totals $202,155 $202,155 Required: 1. Using the unadjusted trial balance provided, create an Income Statement for Equilibrium Riding, Inc, for the year ended December 31. EQUILIBRIUM RIDING, INC. Income Statement
