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Accounts Payable 36,200 Accounts Receivable 65,000 Cash 60,000 Contributed Capital 35,000 Consulting Revenue 375,500 Depreciation Expense 20,000 Dividends 120,000 Equipment, net 175,000 Note Payable (due

Accounts Payable 36,200 Accounts Receivable 65,000 Cash 60,000 Contributed Capital 35,000 Consulting Revenue 375,500 Depreciation Expense 20,000 Dividends 120,000 Equipment, net 175,000 Note Payable (due June 2025) 50,000 Prepaid Rent 3,600 Rent Expense 48,000 Retained Earnings 72,700 Unearned Revenue 17,200 Wages Expense 95,000 Part 3 - Financial Statements (12 marks) Par - Financial Satement 12 mitrato to the year ended December 32, 202. nomi. balances for all accounts. Required: Prepare an Income Statement and a Classified Balance Sheet for Libby Corp.

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