7. The trial balance for Latin Beat Disco follows. Prepare an eight- column work sheet for the year ended December 31, 20-, using the following additional information: * Supplies on hand on December 31 are valued at $200. The declining-balance method of depreciation is used, and equipment depreciates at the rate of 20 percent per year. Latin Beat Disco Trial Balance December 31, 20- Acc Account No. Debit Credit Cash 100 $ 12 000 Accounts Receivable 102 4 000 Supplies 131 700 Equipment 141 45 000 Accumulated Depreciation-Equipment 142 $ 15 400 Accounts Payable 200 7 000 S. Acevedo, Capital 300 29 600 S. Acevedo, Drawings 301 18 000 Sales 400 90 000 Salaries Expense 500 42 000 Rent Expense 501 14 000 Telephone Expense 502 1 400 Miscellaneous Expense 503 1 900 Office Expense 504 3 000 $142 000 $142 000