CC4 Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance.

COOKIE CREATIONS Adjusted Trial Balance December 31, 2016 \begin{tabular}{|c|c|c|} \hline & Debit & Credit \ \hline Cash & $1,180 & \ \hline Accounts Receivable & 875 & \ \hline Supplies & 350 & \ \hline Prepaid Insurance & 1,210 & \ \hline Equipment & 1,200 & \ \hline Accumulated Depreciation-Equipment & & $ 40 \ \hline Accounts Payable & & 75 \ \hline Salaries and Wages Payable & & 56 \ \hline Interest Payable & & 15 \ \hline Unearned Service Revenue & & 300 \ \hline Notes Payable & & 2,000 \ \hline Owner's Capital & & 800 \ \hline Owner's Drawings & 500 & \ \hline Service Revenue & & 4,515 \ \hline Salaries and Wages Expense & 1,006 & \ \hline Utilities Expense & 125 & \ \hline Advertising Expense & 165 & \ \hline Supplies Expense & 1,025 & \ \hline Depreciation Expense & 40 & \ \hline Insurance Expense & 110 & \ \hline Interest Expense & 15 & \ \hline & $7,801 & $7,801 \ \hline \end{tabular}

Instructions Using the information in the adjusted trial balance, do the following. (a) Prepare an income statement and an owner's equity statement for the 2 months ended December 31, 2016, and a classified balance sheet at December 31, 2016. The note payable has a stated interest rate of 

, and the principal and interest are due on November 16, 2018.

4.CTP.4a

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4.CTP.4a

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