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can you please help me with this form? thank you need asap South Shore Medical Clinic Trial Balance December 31, 20X3 Cash Accounts Receivable Supplies

can you please help me with this form? thank you need asap

image text in transcribed South Shore Medical Clinic Trial Balance December 31, 20X3 Cash Accounts Receivable Supplies Inventory Equipment Building Accounts Payable Current Portion - Long Term Debt Long Term Debt, net of Current Portion Owner's Equity Service Fee Revenue Salaries Expense Rent Expense Utilities Expense Totals Debit Credit $ 50,000 55,000 10,000 40,000 75,000 150,000 $ 25,000 35,000 100,000 200,000 125,000 78,500 24,000 2,500 $ 485,000 $ 485,000 Task #1: Using the Trial Balance, prepare an Income Statement. South Shore Medical Clinic Income Statement For the year ending December 31, 20X3 Revenues: Service Fee Revenue Total Revenues Expenses: Salaries Expense Rent Expense Utilities Expense Total Expenses Income: Net Income Task #2: Using the Trial Balance, enter the appropriate amounts for each account. Classify each as an Asset, Liability, or Equity account then specify if they are current or non-current. Account Cash Inventory Supplies Building Equipment Accounts Receivable Accounts Payable Current Portion - Long Term Debt Long Term Debt, net of Current Portion Owner's Equity Account Balance Type of Account Task #3: Once complete, prepare a Balance Sheet listing the accounts and account balances in the appropriate order. (Keep i mind that Net Income Increases the Owner's Equity Account). South Shore Medical Clinic Balance Sheet December 31, 20X3 ASSETS Current Assets Cash Accounts Receivable Supplies Inventory Total Current Assets Non-current Assets Equipment Building Total Non-current Assets TOTAL ASSETS each account. Classify each as an Asset, Liability, or current or non-current. Current/NonCurrent and account balances in the appropriate order. (Keep in wner's Equity Account). Clinic X3 LIABILITIES & NET WORTH Current Liabilities Accounts Payable Current Portion - Long Term Debt Total Current Liabilities Non-current Liabilities Long Term Debt, net of Current Portion Total Non-Current Liabilities NET WORTH Owner's Equity TOTAL LIABILITIES & NET WORTH $ 200,000 Questions: 1. Briefly describe whether or not you think this company is profitable. 2. Is the company collecting enough in revenue to cover their expenses? 3. Comment on any suggestions you might have for the company's owners

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