Media Marketing Services has been operating for several years. It showed the following trial balance information (in alphabetical order) for the month just ended March 31, 2020:

Required

Using the information provided, prepare an income statement and a statement of changes in equity for the month ended March 31, 2020, and a balance sheet at March 31, 2020.

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Account Debit Credit $ 46,000 Accounts payable. ...... $ 3,000 Accounts receivable. Building. 80,000 17,000 Cash. Revenue. 126,000 Sam Smith, capital". 122,000 Sam Smith, withdrawals 18,000 Land. 84,000 Machinery. 50,000 Notes payable. 114,000 ...... Office supplies. 3,000 Office supplies expense. 7,000 Wages expense. 146,000 $408,000 $408,000 Totals.