Transaction Analysis
Construct a trial balance

Assume that Harbor Marine Company reported the following summarized data at December 31, 2018. Accounts appear in no particular order; dollar amounts are in millions.

Other liabilities $2 million
Other assets $20 million
Expenses $26 million
Stockholders’ equity $5 million
Revenues $37 million
Cash $4 million
Accounts payable $6 million

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Requirements
1 Prepare the trial balance of Harbor Marine Company at December 31, 2018. List the accounts in their proper order.
a. Check your spelling carefully and do not abbreviate.
b. Enter amounts in millions, as provided to you in the data.
c. Enter the accounts in the proper order. Enter the income statement accounts on the last two lines, listing the account with the credit balance first.
2 How much was the company’s net income or net loss?
a. Enter the answer as a positive value.
b. Enter amounts in millions, as provided to you in the data.