Chapter 4-Instruction #1 The adjusted trial balance of PS Music as of July 31, 2019 is shown below: PS Music Adjusted Trial Balance July 31, 2019 Debit Balances Credit Balances Cash 9,945 Accounts Receivable 4,150 Supplies 275 Prepaid Insurance 2,475 Office Equipment 7,500 Accumulated Depreciation-Office Equipment 50 Accounts Payable 8,350 Wages Payable 140 Uneared Revenue 3,600 9,000 Peyton Smith, Capital Peyton Smith, Drawing 1,750 Peyton Smith, Drawing 1,750 Fees Eamed 21,200 3,610 2,940 2,550 1,500 Music Expense Wages Expense Office Rent Expense Advertising Expense Equipment Rent Expense Utilities Expense Supplies Expense Insurance Expense Depreciation Expense Miscellaneous Expense 1,375 1,215 925 225 50 1,855 42,340 42,340 a. Prepare an income statement for the two months ended July 31, 2019 Enter all amounts as positive number except for any Net Loss. PS Music Income Statement a. Prepare an income statement for the two months ended July 31, 2019. Enter all amounts as positive number except for any Net Loss. PS Music Income Statement For the Two Months Ended July 31, 2019 Expenses: III Total Expenses b. Prepare a statement of owner's equity for the two months ended July 31, 2019. (Note: Peyton Smith made investments in PS Music on June 1 and July 1, 2019.) If an amount is zero, enter in a "0". PS MUSIC Statement of Owner's Equity For the Two Months Ended July 31, 2019 c. Prepare a balance sheet as of July 31, 2019. PS MUSIC Balance Sheet July 31, 2019 Assets Current Assets: Total Current Assets Property, plant and Equipment: Total Current Assets Property, plant and Equipment: Total Property, Plant and Equipment Total Assets Liabilities Current Liabilities: Total Liabilities Owner's Equity Total Liabilities and Owner's Equity