Acct. No 101 106 124 128 163 201 230 301 302 403 623 640 690 Hipster Optical Trial Balance May 31, 2020 Account Title Cash Accounts receivable Office supplies Prepaid insurance office equipment Accounts payable Unearned service revenue Peeta Black, capital Peeta Black, withdrawals Services revenue Wages expense Rent expense Utilities expense Totals Debit Credit $19,400 9,380 7,300 10,720 26,500 $ 1,690 8,700 57,200 1.570 29,870 15,900 5,200 1,490 $97,460 597,460 Required: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first month ended May 31, 2020 and a balance sheet at May 31, 2020. HIPSTER OPTICAL Income Statement For Month Ended May 31, 2020 HIPSTER OPTICAL Statement of Changes in Equity For Month Ended May 31, 2020 Peeta Black, capital, May 1 0 Total 0 GA Peeta Black, capital, May 31 HIPSTER OPTICAL Balance Sheet May 31, 2020 Assets Liabilities 0 Total liabilities Equity Total assets 0 Total liabilities and equity $ 0 Analysis component Prepare two different journal entries that might have created the May 31, 2020 balance in the Utilities Expense of $1.490. Use May 31, 2020 as the date for your entries View transaction list Journal entry worksheet