At the end of the accounting period and after the end-of-period entries are completed, we sum up all the columns to get the balances in each account. The totals of each column give you the account balances of the trial balance at that point in time.

In the traditional accounting process, this process is called preparing the trial balance.

The ending balances in each account is listed below.

Now that you have the account balances for each account, you are ready to prepare the income statement and balance sheet.