Complete this question by entering your answers in the tabs below. General Journal Requirement Adjusting and Closing General Ledger Worksheet Income Statement Start of OE Prepare a balance sheet. ELI'S CONSULTING SERVICES Balance Sheet January 31, 20X2 Assets Cash TAccounts receivable Supplies Prepaid insurance Equipment Less: Accumulated depreciation-Equipment 103,220 13,940 0.400 15.400 $ 41,000 (366) 41,388 183,328 $ Total assets Liabilities and Owner's Equity Liabilities Accounts payable 3 17.500 Owner's Equity $ 165,094 Trayton Eli, Capital 3182.594 Total liabilities and owner's equity Eli's Consulting Services Balance Sheet December 31, 20X1 Assets Cash Accounts Receivable Supplies Prepaid Rent Equipment Less Accumulated Depreciation Total Assets 111 35 000 500 000 1100 000 410 00 00 110 00 00 18.300 10 8 7 7 00 1321 67 00 350 000 Liabilities and Owner's Equity Liabilities Accounts Payable Owner's Equity Trayton El Capitol Total Liabilities and Owner's Equity 728 6 6 7 00 7321 67 00 11:04) 4/21/2 tes Complete this question by entering your answers in the tabs below. Generall Journal Requirement Adjusting and Closing General Ledger Works Income Statement Sun ollo Bal Shell Ana Postclosing Compare the January 31 balance sheet you prepared with the December 31 balance sheet shown in Figure 6.4 1. What changes occurred in total assets, liabilities, and the owner's ending capital? 2. What changes occurred in the Cash and Accounts Receivable accounts? 3. Has there been an improvement in the firm's financial position? show Amount 1. Total assets Total liabilities Owner's capital 2 Cash Accounts receivable 3. Firm's financial position increased by decreased by Increased by decreased by linoreased by Tincreased by 14.000 38,427 8.130 8.940 $ S