An Adjusted Trial Balance of Anders Retailers as of December

question 52

Essay

An adjusted trial balance of Anders Retailers as of December 31, 2019 is given below. Prepare a single-step income statement for the year for the company.
$\begin{array}{|l|c|c|}\hline&\text { Debit } &\text { Credit }\\\hline \text { Cash. } & \$ 15,000 & \\\hline \text { Accounts Receivable } & 42,000 & \\\hline \text { Merchandise Inventory } & 60,000 & \\\hline \text { Supplies } & 15,000 & \\\hline \text { Land } & 300,000 & \\\hline \text { Accounts Payable } & & \$ 3,000 \\\hline \text { Notes Payable } & & 25,000 \\\hline \text { Common Stock } & & 300,000 \\\hline \text { Retained Earnings } & & 26,000 \\\hline \text { Dividends } & 3,000 & \\\hline \text { Sales Revenue } & & 465,000 \\\hline \text { Cost of Goods Sold } & 240,000 & \\\hline \text { Salaries Expense } & 15,000 & \\\hline \text { Utilities Expense } & 69,000 & \\\hline \text { Rent Expense } & 54,000 & \\\hline \text { Interest Expense } & 6,000 & \\\hline \text { Totals } & \$ 819,000 & .000 \\\hline\end{array}$

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Definitions:

Collaboration

The action of working with someone to produce or create something.

Semantic Confusion

Misunderstandings or misinterpretations that occur due to the ambiguous meanings of words or phrases in communication.

Being Judgmental

The tendency to make quick opinions or evaluations about people or situations, often without full understanding or empathy.

Eye Contact

The act of looking directly into another person's eyes, often used to communicate attention, interest, or respect.