Chapter 2 Assignment (4Qs) 2 Hipster Optical Trial Balance May 31, 2023 Acct. No 101 Cash 106 Accounts receivable 124 Office supplies 25 128 Prepaid insurance- points 16) office equipment 201 230 301 Peeta Black, capital Prin 302 Peeta Black, withdrawals 403 Services revenue 623 Wages expense 640 Rent expense 690 Utilities expense Totals Account Title Debit $18,900 Credit 8,880 6,800 10,220 26,000 Accounts payable Unearned service revenue $1,640 8,200 56,700 1,520 27,320 15,400 4,700 1,440 $93,860 $93,060 Saved Required: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first month ended May 31, 2023, and a balance sheet at May 31, 2023 HIPSTER OPTICAL Income Statement For Month Ended May 31, 2023 Revenues Services revenue. 27.320 ment www DIKA, LA, may Cash Accounts receivable Office supples Prepaid insurance Office equipment Total HIPSTER OPTICAL Balance Sheet May 31, 2023 Assets Liabilities $ 18,900 Accounts payable 1,640 800 Uneamed service revenue 8,200 6,800 10.220 Total abilites 9,840 25,000 Equity Peets Black, capital 56,700 70.800 Total Sabiles and equity S 66,540 Analysis Component Prenare two different inurnal entries that might have created the May 31 2023 halance in the L 22 3 S 4 W E R 40 5 LO 6 T < Prev 2 of 4 7