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create a income statement statement of changes in equity and a classified balance sheet Part II - Financial Statements (11 marks) The alphabetized, adjusted trial

image text in transcribedcreate a income statement statement of changes in equity and a classified balance sheet
Part II - Financial Statements (11 marks) The alphabetized, adjusted trial balance for Zood Services' at the Dec 31, 2020 year-end is as follows. Account Title Accounts Payable Accounts Receivable Accumulated Depreciation, equipment Cash Depreciation Expense Equipment Interest Expense Note Payable (Note 1) Office Supplies Prepaid Insurance Rent Expense Salaries Expense Service Revenue Steve, Capital (Note 2) Steve, Withdrawals Unearned Revenue Total Debit Credit $33,500 23,000 180,000 261,500 30,000 550,000 38,000 150,000 4,000 5,000 75,000 250,000 683,000 250,000 100,000 40,000 $1,336,500 $1,336,500 Note 1: The note payable is payable in 5 annual payments beginning Jan 1, 2021. Note 2: The owner invested $50,000 of his own money in 2020 REQUIRED: Using the following answer sheets, create a(n): 1. Income Statement (2.5 marks) 2. Statement of Changes in Equity (2 marks) 3. Classified Balance Sheet (6.5 marks) Ensure to use proper formatting

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