After the adjusted trial balance is prepared, you tell Sophia that HHECs financial statements for Year 1 can now be prepared. You must use the adjusted trial balance to prepare HHECs income statement, statement of owners equity, and balance sheet.

After the adjusted trial balance is prepared, you tell Sophia that HHECs financial statements for Year 1 can now be prepared. You must use the adjusted trial balance to prepare HHECs income statement, statement of owners equity, and balance sheet.

Task 4: After the adjusted trial balance is prepared, you tell Sophia that HHEC's s for Year 1 can now be be prepared. You must use the adjusted trial balance to prepare atement, statement of owner's equity, and balance sheet. HAPPY HOME Adjusted Trial Balance December 31, Year 1 Cash Accounts Receivable 2,700 Preapid Insurance Buildi Accumulated Depreciation Buildin Office Equi Accumulated Depreciation- Office Equipment Accounts Payable Wages Payable Unearned Revenue Sisters, Capital Sisters, Withdrawals Clearning Revenues Depreciation Expense Office Equipment 2,300 10,000 1.980 1,800 50 1,850 250 360 15,000 4,000 19,160 50 eciation Expense Buildin 1,980 Insurance Expense Supplies Expense Wages Expense Utilities Expense Miscellaneous Expense Total 100 400 4,525 195 38,650 38,650 Answer Income Statement For the Year ended December 31. Year 1 Net Income HHEC Statement of Owners' Equity For the Year ended December 31, Year 1 Total Owner's Equity, December 31, Year 1 Balance Sheet For the Year ended December 31, Year 1 Assets