Prepare the companys balance sheet dated december

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Financial Statement Preparation- Wilderness Guide Services, Incorporated, performs adjusting entries every month but closes its accounts only at year-end. The company's year-end adjusted trial balance dated December 31, current year, is as follows: WILDERNESS GUIDE SERVICES, INCORPORATED Adjusted Trial Balance December 31, Current Year Cash $ 12,200 Accounts receivable 31,000 Camping supplies 7,900 Prepaid Insurance 2,400 Equipment 70,000 Accumulated depreciation: equipment $ 60,000 Accounts payable 9,500 Notes payable (due 4/1/next year) 18,000 Capital stock 25,000 Retained earnings 15,000 Dividends 1,000 Guide revenue earned 102,000 Salary expense 87,500 Camping supply expense 1,200 Insurance expense 9,600 Depreciation expense: equipment 5,000 Interest expense 1,700 $ 229,500 $ 229,500 (Hint: Unprofitable companies have no income taxes expense.). Prepare an income statement for the year ended December 31, current year. Prepare a statement of retained earnings for the year ended December 31, current year. Prepare the company's balance sheet dated December 31, current year. Get the instant assignment help. Does the company appear to be liquid? Has the company been profitable in the past?

Reference no: EM133971844

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