ACCOUNT TITLE TRIAL BALANCE TRIAL BALANCE ADJUSTMENTS ADJUSTMENTS ADJUSTED TRIAL BALANCE ADJUSTED TRIAL BALANCE INCOME STATEMENT INCOME STATEMENT BALANCE SHEET BALANCE SHEET 2 DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 3 Cash 130,650.00 130,650.00 130,650.00 4 Office Supplies 500.00 400.00 100.00 100.00 5 Food Supplies 38,700.00 30,700.00 8,000.00 8,000.00 6 Prepaid Insurance 9,000.00 1,500.00 7,500.00 7,500.00 7 Fishing Boats 60,000.00 60,000.00 60,000.00 8 Accumulated Depreciation-Fishing Boats 1,000.00 1,000.00 1,000.00 9 Accounts Payable 66,500.00 66,500.00 66,500.00 10 Wages Payable 500.00 500.00 500.00 11 Bob Night, Capital 90,000.00 90,000.00 90,000.00 12 Bob Night, Drawing 6,000.00 6,000.00 6,000.00 13 Registration Fees 171,700.00 171,700.00 171,700.00 14 Wages Expense 40,000.00 500.00 40,500.00 40,500.00 15 Rent Expense 40,000.00 40,000.00 40,000.00 16 Office Supplies Expense 400.00 400.00 400.00 17 Food Supplies Expense 30,700.00 30,700.00 30,700.00 18 Phone Expense 1,200.00 1,200.00 1,200.00 19 Utilities Expense 2,000.00 2,000.00 2,000.00 20 Insurance Expense 1,500.00 1,500.00 1,500.00 21 Postage Expense 150.00 150.00 150.00 22 Depreciation Expense-Fishing Boats 1,000.00 1,000.00 1,000.00 23 $328,200.00 $328,200.00 $34,100.00 $34,100.00 $329,700.00 $329,700.00 117,450.00 171,700.00 212,250.00 158,000.00 24 Net Income 54,250.00 54,250.00 25 $171,700.00 $171,700.00 $212,250.00 $212,250.00 Required: 7. Prepare the income statement. 8. Prepare the statement of owners equity. 9. Prepare the balance sheet