An Adjusted Trial Balance of Anders Retailers as of December

question 54

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.
$$\begin{array} { | l | r | r | } \hline & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 15,000 & \\\hline \text { Accounts Receivable } & 42,000 & \\\hline \text { Merchandise Inventory } & 60,000 & \\\hline \text { Supplies } & 15,000 & \\\hline \text { Land } & 300,000 & \\\hline \text { Accounts Payable } & & \$ 3,000 \\\hline \text { Notes Payable } & & 25,000 \\\hline \text { Anders, Capital } & & 326,000 \\\hline \text { Anders, Withdrawals } & 3,000 & \\\hline \text { Sales Revenue } & & 465,000 \\\hline \text { Cost of Goods Sold } & 240,000 & \\\hline \text { Salaries Expense } & 15,000 & \\\hline \text { Utilities Expense } & 69,000 & \\\hline \text { Rent Expense } & 54,000 & \\\hline \text { Interest Expense } & \underline { 6,000 } & \\\hline \text { Totals } & \$ 819,000 & \$ 819,000 \\\hline\end{array}$$

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