Crane Design founded by Thomas Grant

Crane Design was founded by Thomas Grant in January 2011. Presented below is the adjusted trial balance as of December 31, 2017. CRANE DESIGN ADJUSTED TRIAL BALANCE DECEMBER 31, 2017 Debit Credit Cash $11,595 Accounts Receivable 22,095 Supplies 5,595 Prepaid Insurance 3,095 Equipment 60,595 Accumulated Depreciation-Equipment $35,595 Accounts Payable 5,595 Interest Payable 210 Notes Payable 7,000 Unearned Service Revenue 6,195 Salaries and Wages Payable 1,472 Common Stock 10,595 Retained Earnings 4,095 Service Revenue 62,095 Salaries and Wages Expense 11,895 Insurance Expense 1,022 Interest Expense 210 Depreciation Expense 9,000 Supplies Expenses 3,400 Rent Expense 4,350 $132,852 $132,852 Prepare an income statement for the year ending December 31, 2017. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) CRANE DESIGN Income Statement        

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