Continuing Problem Chapter 4 - Instruction #1 The adjusted trial balance of PS Music as of July 31, 2045 is shown below: PS Music Adjusted Trial Balance July 31, 2015 Account " Debit Balances Credit Balances No. 9,945 4,150 275 2,475 7,500 50 8,350 140 3,600 9,000 1,750 Cash Accounts Receivable Supplies Prepaid Insurance Office Equipment Accumulated Depreciation-Office Equipment Accounts Payable Wages Payable Unearned Revenue Common Stock Dividends Fees Earned Music Expense Wages Expense Office Rent Expense Advertising Expense Equipment Rent Expense Utilities Expense Supplies Expense Insurance Expense Depreciation Expense Miscellaneous Expense 21,200 3,610 2,940 2,550 1,500 1,375 1,215 925 225 50 1,855 42,340 42,34 a. Prepare an income statement for the two months ended July 31, 2015. PS Music Income Statement For the Two Months Ended July 31, 2015 Expenses: Total Expenses b. Prepare a statement of stockholders' equity for the two months ended July 31, 2045, (Note: Peyton Smith made investments in PS Music on June 1 and July 1, 2045.) If an amount is zero, enter in a "0". If a net loss is incurred or there is a decrease in owner's equity, enter that amount as a negative number using a minus sign. PS MUSIC Statement of Stockholders' Equity For the Two Months Ended July 31, 2015 Common Stock Retained Earnings Total c. Prepare a classified balance sheet as of July 31, 2045. PS MUSIC Balance Sheet July 31, 2015 Assets Current Assets: Total Current Assets Property, Plant, and Equipment: Total Property, Plant, and Equipment Total Assets Liabilities Current Liabilities: Total Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 8 more Check My Work uses remaining