8. Prepare an income statement, a statement of owner's equity, and a balance sheet. Rosebud Consulting Income Statement For the Month Ended April 30, 2019 Fees earned $ 64,550 Expenses: Salary expense $ 3,575 Supplies expense 2,800 Rent expense 2,000 Depreciation expense 400 Insurance expense 350 Miscellaneous expense 1,650 Total Expenses 10,775 Net income $ 53,775 Rosebud Consulting Statement of Owner's Equity For the Month Ended April 30, 2019 Jeff Horton, capital, April 1, 2019 $ Investment during month $ 50,000 Net income 53,775 $ 103,775 Withdrawals 18,000 Increase in owner's equity 85,775 Jeff Horton, capital, April 30, 2019 $ 85,775 Rosebud Consulting Balance Sheet April 30, 2019 Assets Liabilities Current assets: Current liabilities: Cash $ 20,000 Accounts payable $ Accounts receivable 14,700 Salaries payable 1,925 Supplies 3,300 Unearned fees Prepaid rent 2,000 Total liabilities $ Prepaid insurance Total current assets $ Property, plant and equipment: Owner's Equity Office equipment $ Jeff Horton, capital 85,775 Less accumulated depreciation 400 Total property, plant and equipment Total assets $ Total liabilities and owner's equity $ 9. Journalize the closing entries on Page 4 of the journal. (Do not insert the account numbers in the journal at this time.) Post the closing entries to the general ledger in the spreadsheet. Then go back and enter the appropriate posting references in the journal. For a compound transaction, if an amount box does not require an entry, leave it blank. GENERAL JOURNAL PAGE 4 Date Description Post.Ref. Debit Credit 2019 Closing Entries Apr. 30 Fees Earned 41 64,550 Salary Expense 51 3,575 Supplies Expense 52 2,800 Rent Expense 53 2,000 Depreciation Expense 54 400 Insurance Expense 55 350 Miscellaneous Expense 59 1,650 Jeff Horton, Capital 31 Apr. 30 Jeff Horton, Capital 31 Jeff Horton, Drawing 32 18,000 10. Prepare a post-closing trial balance. If a box does not require an entry, leave it blank. Rosebud Consulting Post-Closing Trial Balance April 30, 2019 Debit Balances Credit Balances Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment Accounts Payable Salaries Payable Unearned Fees Jeff Horton, Capital 85,775