2 Acct. No 101 106 124 15 points Hipster Optical Trial Balance May 31, 2020 Account Title Cash Accounts receivable office supplies Prepaid insurance Office equipment Accounts payable Unearned service revenue Peeta Black, capital Peeta Black, withdrawals Services revenue Wages expense Rent expense Utilities expense Totals 128 163 201 230 301 302 403 623 640 690 8 01:53:24 Debit Credit $18, 100 8.080 6,000 91420 25, 200 $ 1,560 7.400 55,900 1,440 23,240 14,600 900 1, 360 $88,100 $88,100 Required: Using the trial balance provided above, prepare an income statement and statement of changes in May 31, 2020, and a balance sheet at May 31, 2020. Required: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first month May 31, 2020, and a balance sheet at May 31, 2020. HIPSTER OPTICAL Income Statement For Month Ended May 31, 2020 Revenues Operating expenses Total operating expenses ts HIPSTER OPTICAL 01:52:41 Statement of Changes in Equity For Month Ended May 31, 2020 Peeta Black, capital, May 1 Total Peeta Black, capital, May 31 2:31 HIPSTER OPTICAL Balance Sheet May 31, 2020 Assets Liabilities Total liabilities Equity Total assets Total liabilities and equity Journal entry worksheet 1 1:52:05 Record the balance in utilities expense of $1,360 on May 31, 2020. Note: Enter debits before credits. Debit General Journal Date Credit May 31, 2020 View general journal Clear entry Record entry View transaction list 2 Journal entry worksheet 5 oints