-- BUSI 1043 INC Adjusted Trial Balance As at December 31, 2019 Debit Credit Cash $ 20,000 Accounts Receivable Allowance for doubtful accounts $ 17,000 $ Inventory 2,000 $ 10,000 Prepaid Expenses $ 2,000 Long Term Investments $100,000 Building $300,000 Accumulated Depreciation - Building $ 30,000 Equipment $ 75,000 Accumulated Depreciation - Equipment $ 15,000 Accounts Payable $ 8,000 Salaries Payable $ 3,500 Interest Payable $ 1,500 Income Tax Payable $ 12,000 Unearned Revenue $ 5,000 Current portion of bank loan payable $ 3,500 Bank loan payable $ 35,000 $ Common Shares 100 Dividends Declared $ 16,000 $329,400 Retained Earnings $500,000 Sales $ 15,000 Sales returns and allowances Sales discounts $ 6,000 $ 3,000 Interest revenue $285,000 Cost of goods sold English (U.S.) T uusing expense Supplies expense Insurance expense Interest expense Income tax expense $ 11,000 $ 6,000 $ 4,000 $ 1,000 $ 12,000 1. Prepare the Balance Sheet 2. Prepare the Income Statement Student's response to Q2 (only answers provided in box below will be marked) sh (U.S.)