1. Prepare an income statement.

2. Prepare a statement of owner's equity. If an amount is zero, enter "0".

3. Prepare a balance sheet.

The following trial balance is taken after one month of operation.

TJs Paint Service Trial Balance July 31, 20 - -
ACCOUNT TITLE	ACCOUNT NO.	DEBIT BALANCE	CREDIT BALANCE
Cash	101	4 3 0 0
Accounts Receivable	122	1 1 0 0
Supplies	141	8 0 0
Paint Equipment	183	9 0 0
Accounts Payable	202		2150
TJ Ulza, Capital	311		3205
TJ Ulza, Drawing	312	5 0 0
Painting Fees	401		3600
Wages Expense	511	900
Rent Expense	521	250
Phone Expense	525	50
Transportation Expense	526	60
Utilities Expense	533	70
Miscellaneous Expense	549	25
		8955	8955