Following is the adjusted trial balance of Wilson Trucking C

Following is the adjusted trial balance of Wilson Trucking Company

Use the above adjusted trial balance to prepare Wilson Trucking Company’s classified balance sheet as of December 31, 2016

Account Title	Debit	Credit
Cash	$	5,400
Accounts receivable		29,000
Office supplies		6,573
Trucks		161,000
Accumulated depreciation—Trucks			$	33,166
Land		42,000
Accounts payable				9,400
Interest payable				20,000
Long-term notes payable				60,000
Common stock				23,624
Retained earnings				94,498
Dividends		17,000
Trucking fees earned				124,000
Depreciation expense—Trucks		21,392
Salaries expense		56,046
Office supplies expense		16,000
Repairs expense—Trucks		10,277
Totals	$	364,688	$	364,688

Wilson Trucking Company

Balance sheet

December 31, 2016

Note 1:- Calculation of Retained Earnings

ASSETS	Amount ($)	Amount ($)
Current Assets:-
Cash		$5400
Accounts Receivable		$29000
Office Supplies		$6573
Total Current Assets (A)		$40973
Plant Assets:-
Trucks	$161,000
Less: Accumulated Depreciation - Trucks	($33166)	$127,834
Land		$42000
Total plant Assets (B)		$169,834
Total Assets (A) + (B)		$210,807

Liabilities :
Current Liabilities :-
Account Payable		$9400
Interest Payable		$20000
Total Current Liabilities (A)		$29400
Long Term Liabilities:-
Long Term Notes Payable (B)		$60000
Total Liabilities (C) = (A) + (B)		$89400
Equity:-
Retained Earnings (Refer Note 1) (D)		$97783
Common Stock (E)		$23624
Total Liabilities and Equity (C + D + E)		$210,807