CANTU CORPORATION

Worksheet

Month Ended December 31, 2019 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 78,200 78,200 78,200 Accounts Receivable 13,000 13,000 13,000 Supplies 12,100 7,000 5,100 5,100 Prepaid Advertising 20,400 3,400 17,000 17,000 Equipment 85,000 85,000 85,000 Accumulated DepreciationEquipment 1,700 1,700 1,700 Accounts Payable 13,000 13,000 13,000 Selena Cantu, Capital 109,000 109,000 109,000 Selena Cantu, Drawing 8,200 8,200 8,200 Fees Income 115,500 115,500 115,500 Supplies Expense 7,000 7,000 7,000 Advertising Expense 3,400 3,400 3,400 Depreciation Expense-Equipment 1,700 1,700 1,700 Salaries Expense 17,800 17,800 17,800 Utilities Expense 2,800 2,800 2,800 Totals 237,500 237,500 12,100 12,100 239,200 239,200 32,700 115,500 206,500 123,700 Net Income 82,800 82,800 115,500 115,500 206,500 206,500

Required:

1. Prepares an income statement.
2. Prepares a statement of owner's equity. The owner made no additional investments during the month.
3. Prepares a balance sheet.