Credit Cash Accounts receivable Debit $11,430 18,300 3,200 3,400 26,600 $5,905 2,750 2,700 1,540 Supplies Prepaid insurance Equipment Accumulated depreciation-equipment Accounts payable Salaries payable Interest payable Rent payable Income tax payable Deferred revenue Bank loan payable, 2024 Common shares Retained earnings Dividends declared 1,300 1,400 600 25,600 6,000 5,200 400 Service revenue 52,535 19,200 13,955 2,295 Salaries expense Rent expense Depreciation expense Supplies expense Interest expense Insurance expense Income tax expense 1,890 1,540 1,160 2,160 $105,530 Total $105,530 Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) YANIK FINANCIAL SERVICES LTD. Statement of Changes in Equity Year Ended August 31, 2021 Common Shares Retained Earnings Total Equity Balance, September 1, 2020 $ 4600 5200 $ 102 Issued common shares 1200 i 12 Net income 10335 103 Dividends Declared i -400 i -400 Balance, August 31, 2021 $ 7300 $ 15135 $ 214 YANIK FINANCIAL SERVICES LTD Statement of Income For the year ended August 31, 2021 Revenues Service Revenue $ 52535 Expenses Salaries Expense 19200 i Rent Expense 13955 i Depreciation Expense 2295 i Supplies Expense 1890 i Interest Expense 1540 i Insurance Expense 1160 i Total expenses 40040 i Income before income tax 12495 Income Tax Expense 2160 i Net income $ 10335