Credit Sewing Inc. Trial Balance December 31, 2020 Debit $3,200 480 990 3,860 $770 67,500 2,840 46,500 Cash Prepaid insurance Merchandise supplies Assembly equipment Accum depreciation. Assembly Equipment Building Accum depreciation, building Land Unearned rent Loan payable Dividends declared Retained Earnings Common Shares Sharp, withdrawals Sales Wages expense Utilities expense Property taxes expense Interest expense TOTAL 600 10,000 $8,500 52,560 50,000 2,700 26,800 4,200 690 600 4,350 $143,570 $143,570 Using the trial balance and the following information: a. Common shares of $ 10,000 where issued during the year. The beginning balance was $40,000. b. $5,000 of the loan payable must be paid in 2021. Prepare and Income Statement (Statement of Earnings) for Sewing Inc for the year ended December 31, 2020. (9 marks) Prepare Statement of changes in Equity for Sewing Inc for the year ended December 31, 2020. (6 marks) Prepare a classified Balance Sheet (Statement of Financial Positin ) for Sewing Inc at December 31, 2020 in proper format. (15 marks)