Work Sheet Lundberg Company had the following trial balance columns on its work sheet: Lundberg Company Trial Balance December 31, 20-- ACCOUNT TITLE DEBIT BALANCE CREDIT BALANCE Cash 30,300 Government Notes 5,000 Interest Receivable Accounts Receivable 34,000 Allowance for Doubtful Accounts 530 Finished Goods Inventory 24,000 Work in Process Inventory 9,000 Materials Inventory 8,500 Office Supplies 3,100 Factory Supplies 3,800 Land 100,000 Factory Building 120,000 Accumulated Depreciation—Factory Building 10,000 Factory Equipment 40,000 Accumulated Depreciation—Factory Equipment 5,000 Accounts Payable 13,800 Income Tax Payable Interest Payable Bonds Payable 80,000 Capital Stock 50,000 Paid-In Capital in Excess of Par 30,000 Retained Earnings 92,400 Cash Dividends 30,000 Sales 405,100 Interest Revenue 300 Factory Overhead 78,630 89,300 Cost of Goods Sold 190,700 Wages Expense 70,000 Office Supplies Expense Bad Debt Expense Utilities Expense—Office 4,400 Interest Expense 7,000 Income Tax Expense 18,000 776,430 776,430 Data for adjusting the accounts are as follows: (a) Factory overhead to be applied to work in process ending inventory $3,100 (b) Interest receivable 75 (c) Interest payable 600 (d) Estimate of uncollectible accounts, based on an aging of accounts receivable 2,930 (e) Office supplies consumed 2,900 (f) Factory supplies consumed 3,300 (g) Factory building depreciation 5,000 (h) Factory equipment depreciation 4,000 (i) Overapplied factory overhead 1,470 (j) Provision for corporate income taxes 6,100 (k) Physical counts of the inventories agreed with the amounts in the books. Required: 1. Prepare a work sheet. If an amount box does not require an entry, leave it blank. Lundberg Company Work Sheet For Year Ended December 31, 20-- Account Title Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 30,300 Government Notes 5,000 Interest Receivable Accounts Receivable 34,000 Allowance for Doubtful Accounts 530 Finished Goods Inventory 24,000 Work in Process Inventory 9,000 Materials Inventory 8,500 Office Supplies 3,100 Factory Supplies 3,800 Land 100,000 Factory Building 120,000 Accum. Depr.—Factory Building 10,000 Factory Equipment 40,000 Accum. Depr.—Factory Equip. 5,000 Accounts Payable 13,800 Income Tax Payable Interest Payable Bonds Payable 80,000 Capital Stock 50,000 Paid-In Capital in Excess of Par 30,000 Retained Earnings 92,400 Cash Dividends 30,000 Sales 405,100 Interest Revenue 300 Factory Overhead 78,630 89,300 (a) and (f) (g) (h) (i) Cost of Goods Sold 190,700 Wages Expense 70,000 Office Supplies Expense Bad Debt Expense Utilities Expense—Office 4,400 Interest Expense 7,000 Income Tax Expense 18,000 776,430 776,430 Net Income