3 The completed worksheet for Cantu Corporation as of December 31, 2019, after the company had completed the first month of operation, appears below. 01:20:52 Income Statement Debit Credit Account Name Cash Accounts Receivable Supplies Prepaid Advertising Equipment Accumulated Depreciation- Equipment Accounts Payable Selena Cantu, Capital Selena Cantu, Drawing Fees Income Supplies Expense Advertising Expense Depreciation Expense-Equipment Salaries Expense Utilities Expense Totals Net Income CANTU CORPORATION Worksheet Month Ended December 31, 2019 Adjusted Trial Trial Balance Adjustments Balance Debit Credit Debit Credit Debit Credit 77,900 77,900 12,700 12,700 11,500 6,700 4,800 18,600 3, 100 15,500 77,500 77,500 1,550 1,550 12,700 12,700 108,700 108,700 7,900 7,900 104,700 104,700 6,700 6,700 3, 100 3, 100 1,550 1,550 17,500 17,500 2,500 2,500 226, 100 226, 100 11, 350 11, 350 227,650 227,650 Balance Sheet Debit Credit 77, 900 12,700 4,800 15,500 77,500 1,550 12,700 108,700 7,900 104,700 6,700 3, 100 1,550 17,500 2,500 31,350 104,700 73, 350 104,700 104,700 196,300 122,950 73,350 196,300 196,300 Required: 1. Prepare an income statement. 2. Prepare a statement of owner's equity. The owner made no additional investments during the month. 3. Prepare a balance sheet. Analyze: If the adjustment to Prepaid Advertising had been $6,200 instead of $3,100, what net income would have resulted? Required 1 Required 2 Required 3 Analyze Prepare an income statement. CANTU CORPORATION Income Statement Month Ended December 31, 2019 Revenue Expenses Total expenses Required 1 Required 2 Required 3 Analyze Prepare a statement of owner's equity. The owner made no additional investments during the month. CANTU CORPORATION Statement of Owner's Equity Month Ended December 31, 2019 CANTU CORPORATION Balance Sheet December 31, 2019 Assets Total assets Liabilities and owner's equity Owner's equity Total liabilities and owner's equity Required 1 Required 2 Required 3 Analyze If the adjustment to Prepaid Advertising had been $6,200 instead of $3,100, what net income would have resulted? Net income