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The adjusted trial balance of Trent Inc. appears below. Using the information from the adjusted trial balance, prepare, for the month ending December 31, 2022:
(a) a statement of income;
(b) a statement of changes in equity; and
(c) a classified statement of financial position.
Trent INC.
Adjusted Trial Balance
December 31, 2022
Debit Credit
Cash ............................................................................................................. $ 6,000
Accounts receivable ........................................................................................ 3,000
Supplies ........................................................................................................... 1,500
Equipment ..................................................................................................... 21,000
Accumulated depreciationEquipment ................................................................... $4,800
Accounts payable ..................................................................................................... 3,850
Deferred revenue ...................................................................................................... 8,000
Common shares........................................................................................................ 12,100
Retained earnings ..................................................................................................... 3,300
Dividends declared .........................................................................................1,600
Service revenue ........................................................................................................ 11,000
Salaries expense ............................................................................................4,000
Supplies expense ..............................................................................................500
Depreciation expense .....................................................................................3,000
Rent expense .................................................................................................2,000
Income tax expense .......................................................................................... 450
$43,050 $43,050
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