From the ff. account balances picked up from the ledger of Morgan Industries on July 15, 2008, prepare a trial balance in good form
Morgan, Drawing Drawing 1, 800
Accounts Payable 38, 000
Land 30,000
Sales Discount 3, 600
Purchase Returns and Allowances 3,000
Insurance 1,800
Utility Expense 900
Interest Income 260
Accounts Receivable 26,400
Allowance for Bad Debts 1, 100
Merchandise Inventory, Jan.1 12, 000
Mortgage Payable 48, 700
Furniture and Equipment 8, 100
Notes Receivable 600
Building 90, 000
Petty Cash Fund 2,000
Morgan, Capital
80,690
Supplies Unused 1, 500
Purchases 100, 800
Sales 155,000
Salaries and Wages 19, 800
Cash 8, 400
Accumulated Depreciation-Furniture and Equipment 1,500
Sales Returns and Allowances 12, 000
Advertising 4, 200
Rent Income 2, 400
Interest Expense 1, 350
Can you prepare the financial statements from this trial balance? Why or why not?