103 Accounts receivable. 168 300 301 101 Cash Adventure Elements provides outdoor activities including ropes courses, rock climbing, and zip-lining. The company offers a unique experience for team building activities, camps for youth, and anyone seeking outdoor adventure. The following is trial balance for the year ended March 31, 2023. No. Account 201 Accounts payable and accrued liabilities Accumulated depreciation, equipment Becky Brenner, capital Becky Brenner, withdrawals Debit $9,800 Credit $4,100 10,000 43,500 38,600 14,350 194 Copyright 11,050 167 Equipment 38,400 633 Insurance expense 2,540 623 Interest expense 295 141 Notes receivable, due January 1, 2026 18,500 233 Long-term notes payable: 25,500 610 Rent expense 10,200 402 Revenues 87,350 765 126 Supplies 637 Supplies expense 2,550 652 Telephone expense 2,990 18,200 203 688 612 Unearned revenues Utilities expense Wages expense Totals 3,010 35,600 $188,650 $188,650 Activate Windows The following is additional information that has not been included in the trial balance. a. On April 2, you received the telephone bill for the month of March for $750. b. On March 31, Adventure Element took a university student club zip-lining. An invoice had been sent to the student club for $3,550 due April 30. c. On March 31, the company held a teen's camp for $1,630. All tickets had been prepaid two weeks in advance. d. The equipment has an estimated useful life of 20 years with no residual value at the end of its useful life. If you need to create a new account, use account number 606. Use straight line method for depreciating Equipment The owner made an additional investment during the year of $12.500. A $4,000 payment on the long-term notes payable will be made during the year ended March 31, 2024. Prepare an income statement for the year ended March 31, 2023. ADVENTURE ELEMENTS Income Statement For Year Ended March 31, 2023 Operating expenses during the year ended March 31, 2024 Prepare an income statement for the year ended March 31, 2023. Operating expenses: ADVENTURE ELEMENTS Income Statement For Year Ended March 31, 2023 Total operating expenses 0 Prepare a statement of changes in equity for the year ended March 31, 2023. ADVENTURE ELEMENTS Statement of Changes in Equity For Year Ended March 31, 2023 Becky Brenner, capital, April 1 Total Becky Brenner, capital, March 31 0 S 0 Prepare a classified balance sheet at March 31, 2023. ADVENTURE ELEMENTS Balance Sheet March 31, 2023 Assets Current assets Total current assets Long-term investments: Property, plant and equipment Intangible assets Total acco S 0 Total assets Liabilities Current liabilities Total current liabilities Long-term liabilities: Total liabilities Total liabilities and equity Equity S 0 0