Account Title Cash Accounts Receivable Supplies Land Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends Fees Earned Salary Expense Supplies Expense Depreciation Expense Miscellaneous Expense Unadjusted Trial Balance Dr. 8,370 19,920 2,110 16,930 15,940 2,590 15,140 End-of-Period Spreadsheet For the Year Ended August 31, 20Y9 1,590 82,590 Cr. 2,210 5,380 6,700 13,620 54,680 82,590 Adjustments Dr. 260 1,770 1,060 3,090 Cr. 1,770 1,060 260 3,090 Adjusted Trial Balance Dr. 8,370 19,920 340 16,930 15,940 2,590 15,400 1,770 1,060 1,590 83,910 Cr. 3,270 5,380 260 6,700 13,620 54,680 83,910 Current assets: Cash Accounts receivable Supplies Total current assets Property, plant, and equipment: Land Office equipment Accumulated depreciation Total assets Book value-office equipment Total property, plant, and equipment Current liabilities: Accounts payable Salaries payable Demo Consulting Balance Sheet August 31, 20Y9 Total liabilities Assets 15,940 2,210 X Liabilities 8,370 19,920 2,110 X 16,930 5,380 260 $30,400 X 5,640 Based on the preceding spreadsheet, prepare an income statement for Demo Consulting. Demo Consulting Income Statement For the Year Ended August 31, 20Y9 Fees earned Expenses: Salary expense Supplies expense Depreciation expense Miscellaneous expense Total expenses Net income 15,140 X 1,770 1,060 1,590 54,690 X 19,560 X 35,130 X Balances, September 1, 20Y8 Issued common stock Net income Dividends Demo Consulting Statement of Stockholders' Equity For the Year Ended August 31, 20Y9 Balances, August 31, 20Y9 Common Stock Retained Earnings 6,700 X Total 13,620 X Common stock Retained earnings Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 6,700 13,620 X 20,320 X