1. Prepare an income statement.

2. Prepare a statement of owners equity. The owner made no additional investments during the month.

3. Prepare a balance sheet.

4.If the adjustment to Prepaid Advertising had been $6,800 instead of $3,400, what net income would have resulted?

AutoSave Off Hov SB Homework 10.4.20... Search The Walshs 0 X File Home Insert Draw Page Layout Formulas Data Review View Help Share Comments X Calibri 11 AA = = = ab Wrap Text y General TV WE F 2 O Paste BI U A Merge & Center Insert Delete Format $ % % -29 v Conditional Format as Cell Formatting Table Styles Styles Sort & Find & Filter Select Analyze Data Analysis Clipboard Font Alignment Number Cells Editing K33 fic A B D E F G H J K L | N O P o R S TA 5 Adjustments Credit Debit Debit Credit Debit Credit Debit Credit $ $ 7,000 3,400 $ 1,700 6 7 Trial Balance 8 Account Name Debit Credit 9 Cash $ 78,200 10 Accounts receivable $ 13,000 11 Supplies $ 12,100 12 Prepaid advertising $ 20,400 13 Equipment $ 85,000 14 Accumulated depreciation-Equipment 15 Accounts payable $ 13,000 16 Isabel Chavarria, Capital $ 109,000 17 Isabel Chavarria, Drawing $ 8,200 18 Fees income $ 115,500 19 Supplies expense 20 Advertising expense 21 Depreciation expense-Equipment 22 Salaries expense $ 17,800 23 Utilities expense $ 2,800 24 Totals ####### $ 237,500 Adjusted Trial Balance Debit Credit $ 78,200 $ 13,000 $ 5,100 $ 17,000 $ 85,000 $ 1,700 $ 13,000 $ 109,000 $ 8,200 $ 115,500 $ 7,000 $ 3,400 $ 1,700 $ 17,800 $ 2,800 $ 239,200 $ 239,200 $ $ $ 7,000 3,400 1,700 $ 12,100 $ 12,100 25 Net income 26 Sheet1 + Enter 100% 1 Type here to search i Em L 74F (1x 1:15 PM 10/5/2021 IE