Account title debit credit cash $ 6,400 accounts receivable 24,500 office supplies 7,700 trucks 186,000 accumulated depreciation—trucks $ 38,316 land 47,000 accounts payable 10,400 interest payable 13,000 long-term notes payable 46,000 common stock 25,298 retained earnings 138,000 dividends 13,000 trucking fees earned 121,000 depreciation expense—trucks 24,714 salaries expense 65,660 office supplies expense 5,000 repairs expense—trucks 12,040 totals $ 392,014 $ 392,014 use the above adjusted trial balance to prepare wilson trucking company’s classified balance sheet as of december 31.

TOTAL CURRENT ASSETS  $38,600

TOTAL ASSETS  $233,284

TOTAL CURRENT LIABILITIES  $23,400

TOTAL LIABILITIES  $69,400

TOTAL EQUITY  $163.884

TOTAL EQUITY & LIABILITIES  $233.284

Explanation:

It's necessary to start by preparing the balance sheets with the information available, as result we have a difference in the accounting equation of $0,586 because it's necessary to prepare the income statement to define how much of the income it's keep as retained earnings.

Balance Sheets.

AssetsDec 31

Cash$6,400

Accounts Receivable$24,500

Supplies$7,700

TOTAL CURRENT ASSETS  $38,600

Property and Equipment$186,000

Accumulated Depreciaiton-$38,316

Land$47,000

TOTAL ASSETS  $233,284

Accounts Payable  $10,400

Interest Payable  $13,000

TOTAL CURRENT LIABILITIES  $23,400

Long Term Notes Payables  $46,000

TOTAL LIABILITIES  $69,400

Common Stock  $25,298

Retained Earnings  ($138,000 + 0,586)=138,586

TOTAL EQUITY  $163,884

TOTAL EQUITY & LIABILITIES  $233,284

Income Statement  

Sales $121,000  

Depreciation-$24,714  

MARGEN BRUTO  $96,286  

Salaries expense-$65,660  

Office supplies expense-$5,000  

Other Income  -$12,040  

Income Statement  $13,586  

Dividends  $13,000  

Retained Earnings = $0,586

answer; (b) insider trading;