Bonita Design was founded by Thomas Grant in January 2011. Presented below is the adjusted trial balance as of December 31, 2020. Credit $ 35,540 5,540 204 6,800 BONITA DESIGN ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Cash $ 11,540 Accounts Receivable 22.040 Supplies 5.540 Prepaid Insurance 3,040 Equipment 60,540 Accumulated Depreciation Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense 11,840 Insurance Expense 1,014 Interest Expense 554 Depreciation Expense 8,800 Supplies Expenses 3.400 Rent Expense 4,000 $ 132,308 6,140 1,464 10.540 4,040 62,040 $ 132,308 Prepare an income statement for the year ending December 31, 2020. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BONITA DESIGN Income Statement For the Year Ended December 31, 2020 Revenues Service Revenue Expenses Salaries and Wages Expense 11840 i Depreciation Expense 1014 Rent Expense 204 Supplies Expense 8800 Insurance Expense 3400 Interest Expense 4350 Total Expenses Net Income /(Loss) $