Chapter 3 Problems (Day 6) 0 his alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2020, yearend: Saved Debit Credit Accounts payable 3 43,100 Accounts receivable S 17 , 800 Accumulated depreciation, automobiles 68, 100 Accumulated depreciation, equipment 19,600 Advertising expense 8, 100 Automobiles 13 1 , 000 Cash 10 , 100 Depreciation expense, automobiles 12 , 300 Depreciation expense, equipment 3 , 2 00 Equipment 60 , 500 Revenue 221, 175 Interest income 200 Interest expense 2,600 Interest payable 50 Interest receivable 400 John Conroe, capital 22, 100 John Conroe, withdrawals 18, 100 Land 30 , 500 Longterm notes payable 105, 000 Notes receivable (due in 90 days) 75, 500 Office supplies 3, 100 office supplies expense 12, 100 Repairs expense, automobiles 7 , 500 Salaries expense 75,325 Salaries payable 4,600 Unearned revenue 10, 100 Wages expense 26,900 Totals 5 495,025 $495,025 equired: se the information in the trial balance to prepare: Tl..- :..--....- _._1-__-..r 1;. .t. H--. \"0.-.: ml---u-. a4 nnnn ( 2 of 2 Help Save & Exit Submit Chapter 3 Problems (Day 6) i Saved Help Save & Exit Submit Use the information in the trial balance to prepare: 2 a. The income statement for the year ended December 31, 2020. GALAVU ENTERTAINMENT Income Statement For Year Ended December 31, 2020 Revenues: Revenue $ 221,175 Interest income 200 Total revenues $ 221,375 Operating Expenses: Advertising expense 8,100 Depreciation expense, automobiles 12,300 Accumulated depreciation, equipment 3,200 Interest expense 2,600 Office supplies expense 12,10 Repairs expense, automobiles 7,500 Salaries expense 75,325 Wages expense 26,900 Total operating expenses 148,025 Profit P $ 73,350 McChapter 3 Problems (Day 6) 0 saved Help Save 8. Exit Submit 2 . The statement of changes in equity for the year ended December 31, 2020, assuming that the owner made additional investments f $10,500 during the year. John Conroe, capital, January 1 _ $ 22100 Add: Prot $ 73,350 John Conroe, capital, December 31 . The balance sheet as of December 31, 2020. (Be sure to list the assets and liabilities in order of their liquidity.) %