Credit YANIK FINANCIAL SERVICES LTD. Adjusted Trial Balance August 31, 2021 Debit Cash $11,490 Accounts receivable 18,200 Supplies 3,200 Prepaid insurance 3,650 Equipment 25,900 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 600 Service revenue Salaries expense 19,200 Rent expense 14,285 Depreciation expense 2,315 Supplies expense 1,790 $5,905 2,750 2,300 1,640 1,500 1,400 700 24,200 4,800 5,500 54,835 Interest payable Rent payable Income tax payable Deferred revenue Bank loan payable, 2024 Common shares Retained earnings Dividends declared 1,640 1,500 1,400 700 24,200 4,800 5,500 600 54,835 Service revenue Salaries expense Rent expense Depreciation expense Supplies expense Interest expense Insurance expense Income tax expense 19,200 14,285 2,315 1,790 1,640 1,100 2,160 $ 105,530 Total $105,530 During the year, the company issued common shares for $1,000. YANIK FINANCIAL SERVICES LTD Statement of Income For the year ended August 31, 2021 Revenues Service Revenue 5483 Expenses Salaries expense 19.200 i Rent Expense 14.285 i Depreciation Expense 2.315 Supplies Expense 11790 Interest Expense 1.640 i Insurance expense 1.100 i Total expenses 40330 Income before income tax 10505 2.160 Income tax expense 12345 Net income Prepare a statement of changes in equity. (For decreases use either a negative sign preceding the number, e.s. -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 4.800 5.500 600 Dividends Declared Issued common shares Net income 12345 Balance, August 31, 2021 800 VA 18,445 $