COLLEGE COASTERS Trial Balance December 31, 2019 Account Title Debit Credit $ 7,480 3,140 1,208 500

COLLEGE COASTERS Trial Balance December 31, 2019 Account Title Debit Credit $ 7,480 3,140 1,208 500 850 100 1,078 40 Cash Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Income Taxes Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Depreciation Expense Office Expenses Rent Expense 800 5,500 2,500 17,600 8,630 100 1,590 1,200 1,200 Rent Expense salaries and Wages Expense Income Tax Expense Total 2,120 800 27,618$ 27,618 Adjusted COLLEGE COASTERS Income Statement For the Year Ended December 31 Revenues: Sales Revenue $ Cost of Goods Sold 17,600 8,630 8,970 – 2,120 Gross Profit Operating Expenses: Salaries and Wages Expense Depreciation Expense Office Expenses Rent Expense 100 1,590 1,200 0 5,010 Total Operating Expenses Income before Income Tax Expense Income Tax Expense 3,960 800 4,760 X Net Income

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