Acc421 Intermediate Accounting: E3-11 The adjusted trial balance of Cavamanlis Co

Acc421 Intermediate Accounting Exercise 3-11 (Prepare Financial Statements) The adjusted trial balance of Cavamanlis Co. as of December 31, 2010, contains the following. CAVAMANLIS CO. Adjusted Trial Balance December 31, 2010 Account Titles Debit Credit Cash 19,989 Accounts Receivable 7,937 Prepaid Rent 3,297 Equipment 19,067 Accumulated Depreciation 5,912 Notes Payable 6,717 Accounts Payable 5,489 Common Stock 21,017 Retained Earnings 12,327 Dividends 4,017 Service Revenue 3,607 Salaries Expense 7,857 Rent Expense 2,669 Depreciation Expense 236 Interest Expense 174 Interest Payable 174 65,243 65,243 Requirements: a. Prepare an income statement. (List multiple entries from largest to smallest amount, e.g. 10, 5, 2.) b. Prepare a statement of retained earnings. c. Prepare a classified balance sheet. (List assets in order of liquidity and liabilities in order from largest to smallest amounts, e.g. 15, 11, 7.)