At the end of its fiscal year, the adjusted trial balance of Ivanhoe Company is as follows:

IVANHOECOMPANY

Adjusted Trial Balance

July 31, 2017

Debit

Credit

Cash

$3,070

Accounts receivable

11,440

Prepaid rent

500

Supplies750

Debt investments8,000

Equipment19,950

Accumulated depreciationequipment

$5,700

Patents

18,300

Accounts payable

4,305

Interest payable

750

Unearned revenue

2,050

Notes payable (due on July 1, 2019)

45,100

B. Ivanhoe, capital

28,285

B. Ivanhoe, drawings

17,300

Service revenue74,700

Interest revenue320

Depreciation expense2,850

Interest expense3,000

Rent expense18,550

Salaries expense36,650

Supplies expense20,850

DR TOTAL $161,210 CR TOTAL $161,210

Prepare income statement for the year. Mr. Ivanhoe invested $5,000 cash in the business during the year.

Prepare statement of owner's equity for the year. Mr. Ivanhoe invested $5,000 cash in the business during the year.

Prepare classified balance sheet at July 31, 2017. ( Assets as well as Liabilites and Owner's Equity)