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Exercise 132 Your answer is partially correct. Try again. The adjusted trial balance of Ryan Financial Planners appears below. RYAN FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2017 Debit Credit Cash $2,690 Accounts Receivable 2,280 Supplies 1,660 16,200 Equipment Accumulated Depreciation-Equipment $4,050 3,370 Accounts Payable 4,020 Unearned Service Revenue 10,000 Common Stock Retained Earnings 4,490 Dividends 1,500 4,220 Service Revenue 470 Supplies Expense 2,460 Depreciation Expense 2,890 Rent Expense $30,150$30,150 Using the information from the adjusted trial balance, you are to prepare for the month ending December 31: 1. An income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parenthe Income Statement December 31, 2017 Revenues 4220 Service Revenue Expenses 470 Supplies Expense Depreciation Expense 2460 Rent Expense 2890 5820 Total Expenses (1600) Net Income/ (Loss) 2. A retained earnings statement. 2. A retained earnings statement. RYAN FINANCIAL PLANNERS Retained Earnings Statement 3 For the Quarter Ended December 31, 2017 4490 Retained Earnings, December 1 Less (1600) Net Income/(Loss) (1500) Dividends (3100) 1390 Retained Earnings, December 31 3. A balance sheet. (List Assets in order of liquidity. 3. A balance sheet. (List Assets in order of liquidity.) RYAN FINANCIAL PLANNERS Balance Sheet Assets 2690 Cash Accounts Receivable 2280 Supplies 1660 Equipment Total Current Assets Liabilities and Stockholders' Equity Total Current Liabilities 3370 Accounts Payable Unearned Service Revenue 4020 7390 Total Current Liabilities Stockholders' Equity Common Stock 10000 4490 Retained Earnings 14490 21880 Total Liabilities Click if you would like to Show Work for this question: Open Show Work

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