a) Statement of Retained Earnings for the year ending December 31, 2020 b) Statement of Cash Flows for the year ending December 31, 2020
Extracted text: Adjusted Trial Balance December 31, 2020 Accounts Debit Credit Cash Accounts Receivable Inventory Prepaid insurance Prepaid rent Supplies (Office) Supplies (Racing) Equipment (Bikes) Equipment (Kayaks) Accumulated depreciation Accounts payable Income tax payable Interest payable Notes payable Common stock ($1.00 par - 1,000,000 shares authorized, 10,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common 64,200 2,000 5,000 2,400 1,600 300 200 12,000 21,000 8,000 2,800 14,000 750 30,000 10,000 10,000 Dividends 4,000 Merchandise Sales Revenue 27,500 Sales returns and allowances Service revenue (Clinic) Service revenue (Racing) Advertising expense 2,500 50,400 17,500 1,000 15,000 Cost of Goods Sold Depreciation expense Income tax expense Insurance expense Interest expense Legal fees expense Miscellaneous expense Rent expense Salaries expense Selling expese Supplies expense (Office) Supplies expense (Racing) 8,000 14,000 2,400 750 1,500 1,200 800 2,000 5,000 1,500 2,600 Totals 170,950 170,950 For EPS (earnings per share) calculations use 10,000 shares of common stock as the weighted average number of shares outstanding.