Adventure Elements provides outdoor activities including ropes courses, rock climbing, and zip-lining. The company offers a unique experience for team building activities, camps for youth, and anyone seeking outdoor adventure.

The following is trial balance for the year ended March 31, 2020.

No.	Account		Debit			Credit
201	Accounts payable and accrued liabilities				$	3,150
103	Accounts receivable	$	7,550
168	Accumulated depreciation, equipment					8,650
300	Becky Brenner, capital					41,550
301	Becky Brenner, withdrawals		35,800
101	Cash		11,600
194	Copyright		10,500
167	Equipment		33,000
633	Insurance expense		2,320
623	Interest expense		440
141	Notes receivable, due January 1, 2023		15,700
233	Long-term notes payable					27,000
610	Rent expense		12,150
402	Revenues					81,475
126	Supplies		325
637	Supplies expense		2,540
652	Telephone expense		2,950
203	Unearned revenues					12,300
688	Utilities expense		2,850
612	Wages expense		36,400
	Totals	$	174,125		$	174,125

The following is additional information that has not been included in the trial balance.

1. On April 2, you received the telephone bill for the month of March for $580.
2. On March 31, Adventure Element took a university student club zip-lining. An invoice had been sent to the student club for $3,200 due April 30.
3. On March 31, the company held a teens camp for $2,480. All tickets had been prepaid two weeks in advance.
4. The equipment has an estimated useful life of 20 years with no residual value at the end of its useful life. If you need to create a new account, use account number 606.

Use straight line method for depreciating Equipment. The owner made an additional investment during the year of $19,000. A $6,600 payment on the long-term notes payable will be made during the year ended March 31, 2021. 1. Prepare an income statement for the year ended March 31, 2020.

2. Prepare a statement of changes in equity for the year ended March 31, 2020.

3. Prepare a classified balance sheet at March 31, 2020.